Core Viewpoint - Shenzhen has introduced new regulations to encourage innovation and tolerate failure in the technology sector, aiming to provide a systematic and operational institutional guarantee for scientific research and innovation activities [5][17]. Summary by Sections Overall Requirements - The guidelines emphasize three fundamental principles: respect for scientific laws and encouragement of innovation, objective and fair assessment, and adherence to laws and regulations while allowing for corrections [5][19]. Applicable Situations - The guidelines apply to all technology innovation activities funded by municipal financial resources, covering various entities including public institutions, enterprises, and individuals engaged in scientific research [6][18]. Diligence and Responsibility Conditions - Five conditions must be met for entities or individuals to be considered diligent and responsible, including alignment with strategic decisions, adherence to democratic decision-making processes, avoidance of personal gain, proactive engagement, and timely correction of mistakes [7]. Exemption Situations - Nine specific situations are outlined where entities may be exempt from liability, such as failure to complete projects despite diligent efforts, non-passing of milestone assessments, and unforeseen factors affecting project outcomes [9][10][11][12][13][14][15]. Implementation Procedures - The guidelines establish a clear process for initiating and recognizing diligence and responsibility, ensuring that recognized entities will not face penalties or negative evaluations in future assessments [15][17]. Highlights of the New Regulations - The new regulations provide a systematic framework for "encouraging innovation and tolerating failure," clearly defining the boundaries for exemptions and ensuring broad applicability across various sectors [17][18].