The National Data Bureau has released a set of implementation guidelines aimed at fortifying innovation in data technology. These guidelines advocate for enhanced fiscal, tax, and financial backing. They underscore the importance of robust government investment guidance to steer a steady stream of long-term, patient, and high-caliber capital towards the data technology sector. The bureau is keen on fostering investments in early-stage, small-scale, enduring, and cutting-edge tech ventures, with the vision of creating a resilient investment ecosystem through collaborative efforts among the government, market entities, and society at large. Simultaneously, the bureau plans to leverage policies like tax breaks for high-tech firms and specialized guarantees for technological innovation to alleviate the financial burden of innovation for data technology companies. Where feasible, local governments are also encouraged to ramp up their support initiatives.
