Fujian Province: Establishing a 10 billion yuan provincial-level Science and Innovation Relay Fund to empower high-quality technology-based enterprises funded by the fund.

The General Office of the People's Government of Fujian Province issued the "Several Measures to Further Promote the High-Quality Development of Capital Market Serving Technology-based Enterprises". It mentions cultivating patient capital to serve technological innovation. The Provincial Financial Investment Corporation and the Provincial Investment Group will establish a 10 billion yuan provincial-level science and technology innovation fund to empower high-quality technology-based enterprises invested by the fund. Encourage various areas to build fund aggregation zones, select high-quality institutions to operate fund aggregation zones, provide one-stop services, attract angel investment, venture capital, and other types of funds to gather in Fujian; prioritize support for counties with net asset value of private equity venture capital funds ranking at the forefront of the province when applying for financial innovation pilot projects. Support qualified legal person commercial banks to initiate the establishment of financial asset investment companies. Promote localities to strengthen project reserves and recommendations, attract more equity investment funds and resources from financial asset investment companies to support the development of technology-based enterprises.