Guangdong: Promote securities investment funds to support technology companies in the expansion and maturity stages to increase valuation and reduce financing costs.

The local Financial Supervision Bureau of Guangdong Province, the Provincial Department of Science and Technology, the Provincial Development and Reform Commission, and 10 other departments jointly issued the "Work Plan for Promoting the Construction of a Strong Province in Financial Services Science and Technology in Guangdong Province," which proposes exploring the construction of a technology innovation investment fund relay system. It encourages governments at all levels to play the guiding role of government investment funds, as well as the investment role of various funds such as enterprise venture capital, financial asset investment companies, etc., using equity funds, securities funds, alternative asset funds, cross-border funds, etc., guiding the use of financial asset investment company equity investment pilot projects, insurance fund long-term investment reform pilot projects, etc., to diversify funding channels and explore fund matrix support for technology innovation development, guiding social capital to invest early, small, and in hard technology. Use VC, PE to support seed stage, startup stage, growth stage technology companies, promote securities investment funds to support technology companies in the expansion stage, mature stage to increase valuation and reduce financing costs, explore the use of new infrastructure sector REITs, intellectual property securitization funds and other alternative asset funds to support technology companies in the growth stage, mature stage, and accelerate research and development cycles.