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On May 14, the Ministry of Science and Technology, the People's Bank of China, alongside five other government departments, jointly issued a notice titled "Several Policy Measures to Accelerate the Construction of a Science and Technology Financial System and Bolster High-Level Self-Reliance and Strength in Science and Technology." This notice outlines 15 policy measures spanning seven key areas: venture capital, monetary credit, capital markets, and science and technology insurance. The overarching objective is to channel more financial resources into technological innovation, steering financial capital towards early-stage investments, small-scale enterprises, long-term investments, and hard technologies. This strategic shift aims to foster and support high-level self-reliance and strength in science and technology.
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