Core Viewpoint - The Hangzhou Municipal Science and Technology Bureau has drafted the "Rui Miao Plan" to support the high-quality development of technology-based startups, focusing on creating a diversified investment system and establishing a direct investment fund of 2 billion yuan to provide early-stage investment for startups [1][5][14]. Group 1: Overall Requirements - The plan aims to seize opportunities from the new round of technological revolution and industrial transformation, enhancing the policy support system for technology-based startups and fostering a robust innovation ecosystem [6]. Group 2: Targeted Beneficiaries - The plan specifically targets technology-based startups defined as companies established within the last five years, with fewer than 100 employees and annual sales not exceeding 20 million yuan, while also emphasizing the importance of R&D investment [7]. Group 3: Main Goals - By 2027, the plan aims to cultivate over 50,000 technology-based SMEs, more than 3,000 "good seed" companies, and over 22,000 high-tech enterprises, among other ambitious targets [8]. Group 4: Key Measures - The plan includes actions such as establishing a "seed pool" for startups, providing financial support for "good seed" companies, and promoting the growth of high-tech enterprises through various incentives [9][10][11]. Group 5: Financial Support - A direct investment fund of 2 billion yuan will be established to support early investments in technology-based startups, with an annual target of at least 100 projects and a maximum investment of 5 million yuan per company [14]. Group 6: Ecosystem Support - The plan emphasizes the importance of providing comprehensive services for intellectual property, technology talent, and innovation value-added services to create a supportive environment for technology-based startups [15]. Group 7: Organizational Assurance - The implementation of the plan will be coordinated across various government levels, ensuring that financial support for technology-based startups continues to grow and that responsibilities are clearly defined [16].

Core Viewpoint - Korea Investment Corporation (KIC) is expanding its allocation in alternative assets to enhance returns while exploring investment opportunities in China's technology sector [1] Group 1: Investment Strategy - KIC's CEO, Park Il Young, emphasizes the importance of investing in startups and venture capital firms to capture promising trends and potentially achieve high returns [1] - The fund's current investments in Chinese tech stocks are primarily through passive index tracking, but KIC is considering a more aggressive investment strategy due to the rapid rise of China's technology sector [1] Group 2: Market Outlook - Park Il Young believes that the Chinese technology industry is "promising" and is actively seeking investment opportunities within this sector [1]