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Guangdong News丨"For the source of living water": Guangdong legislation promotes technological and financial innovation

2024-08-08

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The total amount of science and technology innovation funds managed by Guangdong Province has reached 2.5 trillion yuan, guiding banking institutions to accurately support technological innovation, with a balance of technological credit exceeding 2.3 trillion yuan, ranking first in the country in terms of scale. "

On August 6, at the press conference on the "Guangdong Provincial Science and Technology Innovation Regulations" held by the Standing Committee of the Guangdong Provincial People's Congress, Wu Shiwen, Deputy Director of the Guangdong Provincial Department of Science and Technology, revealed this set of data to reporters.

Funds are like the source of water for scientific and technological innovation. With continuous financial support, countless fantastic ideas can truly become real new inventions and technologies, making our lives better.

On July 31, the Standing Committee of the Guangdong Provincial People's Congress voted to pass the "Guangdong Provincial Science and Technology Innovation Regulations", which devoted an entire chapter to elaborating on "science and technology finance". From angel investment, venture capital, private equity secondary market funds, to intellectual property pledge financing, listing financing, and cross-border investment and financing, a complete science and technology innovation investment and financing system covering the entire chain of scientific and technological innovation and the entire life cycle of technology-based enterprises was established in the form of legislation to ensure the "source of fresh water" for scientific and technological innovation.

What is "living water"? Behind the legal language of the Regulations, Guangdong has given the answer with its profound understanding of both scientific and technological innovation and capital.

castStart early and invest in small amounts, the source of life is "living water".The value of water is to nourish the growth of all things. Similarly, the real value of capital in the field of scientific and technological innovation is to help the seeds of innovation in incubation grow and eventually bear fruit. As for where the funds collected from various channels such as finance, finance, and insurance will flow to promote scientific and technological innovation, Guangdong has a clear and specific idea: "Invest early, invest in small, invest for a long time, and invest in hard technology." The Regulations propose: "Social capital should be guided to focus on strategic pillar industries, strategic emerging industries, and future industries, and increase investment in seed-stage and start-up technology companies"; "Promote state-owned venture capital institutions to increase support for start-up technology companies."