Shanghai: Encourage Shanghai Municipal State-owned Assets Fund to collaborate with AIC to establish equity investment funds.

The Office of the Financial Commission of the Shanghai Municipal Committee of the Communist Party of China, the Shanghai Development and Reform Commission, and other departments have issued "Several Measures to Fully Utilize the Function of Direct Financing in Shanghai and Further Strengthen Science and Technology Financial Services", proposing to expand the source of financial capital. After exploring through relevant decision-making processes, it is suggested to set different proportions of state-owned capital contributions, threshold returns, etc. for excellent fund managers, actively attracting social security funds, insurance funds, etc. to invest in Shanghai to establish equity investment funds. Guide long-term capital such as insurance and pension funds to expand their participation in the financing of early-stage technology companies in Shanghai through "preferred stocks + convertible bonds". Learn from the risk-stratified design of catastrophe bonds and explore the issuance of structured technology financial products. Encourage Shanghai state-owned funds to cooperate with AIC to establish equity investment funds.