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the state council meeting made a major announcement: to clear the bottlenecks in the "fund raising, investment, management and exit" links as soon as possible, and vigorously develop the equity transfer and m&a market

2024-09-18

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premier li qiang presided over an executive meeting of the state council on september 18 to study relevant measures to promote the development of venture capital, listen to reports on this year's grain production situation and agricultural work, review and approve the "regulations on commendation of martyrs (draft revised)", and review and approve the "regulations of the people's republic of china on export control of dual-use items (draft)".

in terms of promoting the development of venture capital, the meeting pointed out that it is necessary to clear the bottlenecks in the "raising, investing, managing and exiting" links as soon as possible, support qualified technology companies to go public at home and abroad, and vigorously develop the equity transfer and merger and acquisition markets. it is necessary to promote state-owned capital investment to become more responsible long-term capital and patient capital.

in terms of ensuring the "three autumn" grain production, the meeting pointed out that it is necessary to study and formulate a grain storage policy plan early, announce the new year's minimum purchase price for wheat as soon as possible, improve the soybean processing reward and subsidy policy, and protect farmers' enthusiasm for growing grain.

creating new growth points for service trade

the meeting discussed relevant measures to promote the development of venture capital. the meeting pointed out that venture capital is related to scientific and technological innovation, industrial upgrading and high-quality development.

we must clear the bottlenecks in the "fund raising, investment, management and exit" links as soon as possible, support qualified technology-based enterprises to go public at home and abroad, vigorously develop the equity transfer and m&a markets, promote the pilot program of physical distribution of stocks, encourage social capital to establish market-oriented m&a mother funds or venture capital secondary market funds, and promote a virtuous cycle in the venture capital industry.

we should promote state-owned capital investment to become more responsible long-term capital and patient capital, and improve relevant policies and measures on state-owned capital investment, assessment, fault tolerance and exit. we should consolidate the institutional foundation for the healthy development of venture capital, implement key measures for capital market reform, improve the functions of the capital market, and further stimulate the vitality of the venture capital market.

li chunlin, deputy director of the national development and reform commission, said at the regular policy briefing of the state council held on june 26 that in addition to fully respecting market rules, the government's "visible hand" can also play an important role in guiding all types of capital to abandon the impetuous mentality of "quick success, quick in and out, and making quick money" and insist on long-term investment, strategic investment, value investment, and responsible investment.

li chunlin also encouraged key industry enterprises, scientific research institutions, entrepreneurial innovation platform institutions and other entities with rich entrepreneurial and innovative resources, angel investors with capital strength and management experience, insurance funds, government investment funds and other professional institutional investors to actively participate in venture capital and form diversified venture capital entities.

announce the minimum purchase price of wheat in the new year as soon as possible

the meeting heard a report on the grain production situation and agricultural work this year. the meeting pointed out that since the beginning of this year, all regions and relevant departments have persisted in doing a good job in grain production and agricultural work, effectively responding to adverse effects such as floods and waterlogging disasters, summer grain output has hit a record high, autumn grain harvest is in sight, and "vegetable basket" products are in sufficient supply.

we must carefully organize and ensure the production of grain in the "three autumns", strengthen disaster monitoring, early warning and prevention and response, and do a good job in organizing and dispatching mechanized harvesting to ensure a good harvest of autumn grain. we must study and formulate a policy plan for grain storage as soon as possible, announce the minimum purchase price of wheat in the new year as soon as possible, improve the soybean processing reward and subsidy policy, and protect farmers' enthusiasm for growing grain. we must increase support for cattle and sheep breeding, and promptly implement a number of relief policies to help breeders overcome difficulties.

autumn grain accounts for three quarters of my country's total grain output. han jun, secretary of the party leadership group of the ministry of agriculture and rural affairs, said at a press conference held by the state council information office on july 24 that this year's summer grain has achieved a good start, but the bulk of the harvest is in autumn grain. since the beginning of summer, there have been floods in the south and droughts in the north, and some areas have experienced a sharp turn from drought to flood. at present, the area of ​​crops affected by disasters in the country is higher than last year, but the area affected by disasters has decreased by more than 6 million mu year-on-year. according to the agricultural situation dispatch of the ministry of agriculture and rural affairs, the area of ​​autumn grain has increased steadily compared with the previous year, and the growth of crops is generally normal.

"now we are organizing agricultural science and technology personnel to go down to the front line, including comrades from agricultural and rural departments at all levels, to go into villages and households to take charge of specific areas, provide precise and meticulous guidance and services, and strive to achieve a bumper harvest of autumn crops and the annual agricultural harvest." han jun said.