5 Billion Yuan Fund Coming in Zhongguancun
Posted on 06/02/2023
At the 2023 Zhongguancun Forum’s special press conference on major scientific and technological achievements held on May 30, the Social Security Fund announced that it will set up the “Social Security Fund Zhongguancun Independent Innovation Special Fund.” This is a specific measure taken by the Social Security Foundation to implement the instructions of General Secretary Xi Jinping. It aims to support the development of science and technology innovation enterprises in Zhongguancun, accelerate the improvement of independent innovation, and the transformation of scientific and technological achievements, and help the construction of Zhongguancun’s science and technology park and Beijing International Science and Technology Innovation Center.
The Zhongguancun Independent Innovation Special Fund is independently funded by the Social Security Fund, with an initial scale of 5 billion yuan. It is planned to select a leading market institution as the manager and carry out investment in a market-oriented manner. The Social Security Fund and relevant departments of the Beijing Municipal Government will form a strategic committee to guide the investment direction of the fund and evaluate investment performance. It will mainly invest in Zhongguancun’s early and growth-stage scientific and technological innovation enterprises.
The Social Security Fund will adhere to the concept of “long-term investment, value investment, and responsible investment.”
