Wu Qing: Enhance the ability to accompany the innovation "blank areas", better invest early, invest in small, invest long-term, invest in hard technology.

The China Securities Regulatory Commission issued a speech by Wu Qing at the fourth session of the China Securities Investment Fund Industry Association. Wu Qing pointed out that adhering to functionality is essential to better play the role of nurturing new quality productivity. Promoting the integrated development of technological innovation and industrial innovation requires continuous investment of long-term capital and patient capital. Industry institutions, especially private equity venture capital funds, should adhere to long-termism and professionalism, and better play a strategic and fundamental role in supporting innovation. It is necessary to improve the professional investment research system, focus on national strategies and key areas of the national economy, greatly enhance insight into industrial and technological development trends, strengthen the ability to run alongside in the innovation "no man's land," and better invest in early-stage, small-scale, long-term, and hard technology. It is important to strengthen post-investment empowerment, provide more effective governance optimization, resource integration, and long-term companionship and services for invested enterprises, help them cross cycles and enhance their value. Regulatory authorities and self-regulatory organizations should work together with relevant parties to further improve supporting policies, actively support state-owned funds in building fault-tolerance mechanisms, optimizing assessment standards, complementing social capital advantages, promoting pension funds, insurance funds, AIC institutions, and other entities to increase equity investment efforts, and multiple channels to improve fund exit arrangements, and make greater efforts to promote the smooth circulation of fund-raising, management, and withdrawal.