Deputy Director of the China Banking and Insurance Regulatory Commission Cong Lin: 74 private equity investment funds have been established to support investments in technology innovation enterprises.

On May 8th, Cong Lin, Deputy Director of the Financial Regulatory Bureau, said at a press conference at the State Council Information Office that for private enterprises in key areas of financial services, the focus is on "tailored strategies" based on industry characteristics to provide targeted financial services. Cong Lin mentioned that in recent years, in high-tech and emerging industries where private enterprises have shown outstanding performance, the Financial Regulatory Bureau is actively improving the technology financial services model, focusing on promoting the combination of investment and financing. This includes conducting pilot projects for equity investment by financial asset investment companies and supporting investment in technology innovation enterprises. Currently, 74 private equity investment funds have been established, and technology enterprise acquisition loans have been implemented in 18 pilot cities to support the capital circulation of technology enterprises.