B[National Development and Reform Commission: Liuzhang Network is not only a national project, but also a stage for private enterprises] On October 6, Li Hui, director of the Private Economic Development Bureau of the National Development and Reform Commission, said that to turn new space into real profits, continuous efforts are needed in three aspects.
Open the door so that private enterprises can "enter". We are improving the long-term mechanism for private enterprises to participate in major project construction and promoting the fair opening of competitive infrastructure fields to operating entities. Companies of different sizes and expertise can find their place on this website.
Implement classified policies to allow private enterprises to "retain". Among the "Six Networks", the participation of private enterprises is not completely consistent. We will focus on the main concerns of private enterprises in terms of return mechanisms and competition order, launch a number of projects with stable operating income and suitable for private capital participation, improve investment and financing mechanisms, strengthen factor protection, and remove blockages in market access, standard connection, information sharing and other aspects.
Solve problems and let private enterprises "do well". On September 10th and 29th, we publicly promoted 88 projects to private capital in two batches. As the construction of the "Six Networks" is rolled out, we will continue to carry out project promotion work, establish a problem-solving mechanism, strengthen project list management, and coordinate to solve specific difficulties in the participation of private enterprises in project construction.
The "six networks" weaved are not only the skeleton of infrastructure, but also the confidence for China's economy to move forward in a new direction. It is also a track for private enterprises to transform, upgrade, and achieve steady and long-term development. We will strengthen system design, strengthen service guarantees, and strengthen problem solving to promote private enterprises to show their talents in the construction of the "Six Networks" and achieve better development. (CCTV News) B[Ministry of Housing and Urban-Rural Development: Will accelerate the promotion of urban renewal legislation] On September 18, the State Council Information Office held a series of press conferences with the theme of "Starting the 15th Five-Year Plan". Zhang Qiang, Director of the Urban Management Supervision Bureau of the Ministry of Housing and Urban-Rural Development, said at the press conference that promoting urban renewal with high quality is inseparable from policy and mechanism guarantees. We will focus on promoting the establishment and improvement of four mechanisms: First, the integration promotion mechanism of urban physical examination and urban renewal, taking the problems raised by physical examination as the focus of urban renewal. The second is the implementation mechanism of urban renewal planning, establishing an implementation system from special planning to area planning to project implementation plans. The third is a sustainable urban renewal investment and financing mechanism that not only increases government investment but also better leverages market forces. The fourth is the organic integration mechanism of urban renewal and historical and cultural protection, so that historical culture and modern life complement each other. At the same time, we will accelerate the promotion of urban renewal legislation, improve the standard system, and consolidate institutional support for high-quality urban renewal work. B[Science and technology bonds are moving from testing the waters to customization, and the venture capital fundraising ecosystem is being restructured] September 18th. Recently, domestic venture capital institutions have been actively issuing science and technology bonds, with continuous innovations in terms design. New products such as ultra-long-term artificial intelligence industry chain science and technology bonds, exchangeable terms science and technology bonds, and targeted issuance of science and technology bonds have been launched one after another. The bond market is adapting to the long-term nature of hard technology investment through diversified mechanisms. While science and technology innovation bonds help venture capital institutions relieve financial pressure and support long-term science and technology innovation investments, the industry is also faced with practical problems such as mismatch of asset liability periods, high debt issuance thresholds for private institutions, and poor credit enhancement channels. Experts said that the market-oriented innovation of science and technology innovation bonds still needs to continue to be deepened. By improving the credit enhancement mechanism, enriching the product system, and cultivating the investment ecology, we can further open up the capital channels for the bond market to serve scientific and technological innovation. (China Securities Journal) B[Hong Kong’s first five-year plan: Strengthening Hong Kong’s function as the world’s largest offshore RMB business hub] On September 16, Hong Kong SAR Chief Executive Lee Ka-chiu announced the “First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)” (hereinafter referred to as the “Plan”) and the “Chief Executive’s 2026 Policy Address”. The "Plan" mentions strengthening Hong Kong's function as the world's largest offshore RMB business hub. Comprehensively expand the scale of offshore RMB business, continue to improve the offshore RMB ecosystem, enhance liquidity support, establish a liquidity supplement mechanism for Hong Kong's offshore RMB market, accelerate offshore RMB product innovation and expand product types, build a full-coverage, multi-level RMB cross-border circulation network, and improve the stability of offshore RMB financing. Actively promote the RMB as the government's payment currency. Further enhance the ability of the offshore RMB market to support the real economy, comprehensively enhance its support and promotion role in areas such as trade, investment and financing, and cross-border business expansion, support enterprises in using RMB more extensively in cross-border economic and trade business, and facilitate the exchange of RMB with currencies in other regions. B[Hong Kong: Support mainland and overseas industry leaders and high-quality emerging industry companies to list in Hong Kong] September 16th, according to the Hong Kong SAR News Government Gazette, the "First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)" was announced today (September 16), which proposed optimizing the efficiency of the securities market. Strengthen the competitiveness of the listing system and improve the operational efficiency of the securities market infrastructure, and support mainland and overseas industry leaders and high-quality emerging industry companies to list in Hong Kong, including deepening the docking cooperation between the Hong Kong Stock Exchange and the Qianhai Equity Exchange Center, helping more high-quality mainland companies to connect with the international capital market through Hong Kong’s listing platform, and building a smoother and more efficient listing service. Improve and expand financial market interconnection mechanisms, expand emerging areas, give full play to the role of investment and financing platforms, and promote economic, trade, financial and infrastructure cooperation with emerging economies such as countries co-building the “Belt and Road” and the Global South. B[Arrowyuan Technology has completed a new round of financing and will be invested in first flight mission assurance, recycling and reuse verification, and commercial delivery capability building] September 16th, according to today’s news from the official WeChat public account of Arrowyuan Technology, the company has recently completed the B++ round of financing, and the total financing in the past six months has exceeded 2.3 billion yuan. Series B financing was jointly led by IDG Capital, Chaos Investment, Hangzhou Capital, Songyuan Venture Capital, etc., followed by Heda Investment, Linglan Capital, Huafu Capital and other institutions, and old shareholders such as Jiuzhi Capital, Tianwen Times, Jinsha Capital and other investors continued to invest. This round of financing will focus on first flight mission assurance, recycling and reuse verification, and commercial delivery capability building. It is reported that the company's Yuanxingzhe 1 will be ready for its first flight by the end of 2026. After the first flight, the company will switch to subsequent batch deliveries, and it is expected to launch commercial launch services within 2027. (Reporter Wang Bin) B[Ministry of Industry and Information Technology: Guide various investment funds to strengthen support for high-quality open source projects] On September 4, the General Office of the Ministry of Industry and Information Technology issued the "Artificial Intelligence Small and Medium-sized Enterprise Entrepreneurship Support Plan (2026-2028)". It pointed out that the guarantee of financing services should be strengthened. Give full play to the guiding role of the National Small and Medium Enterprise Development Fund, the National Artificial Intelligence Industry Investment Fund, and the National Integrated Circuit Industry Investment Fund, drive social capital to establish a number of early-stage venture capital funds and venture capital funds focusing on the field of artificial intelligence, and build a patient capital support system covering the seed stage, start-up stage, and growth stage. An artificial intelligence investment and financing column has been added to the financing area of the gradient cultivation platform for high-quality small and medium-sized enterprises, and the "online roadshow" function has been launched to promote efficient connection between venture capital institutions and entrepreneurial enterprises. Guide various investment funds to strengthen their support for high-quality open source projects and form a closed loop of open source ecology for healthy development. Encourage all localities to join venture capital institutions, incubation carriers, etc., to promote the overall allocation of venture capital and computing power supply, data supply, pilot incubation and other resources, and explore new support methods such as computing power equity participation, data equity participation, investment and incubation linkage, etc. B[Ten departments: Encourage the establishment of small and medium-sized enterprises and drive more patient capital to invest in small and medium-sized enterprises in the seed and start-up stages] On September 3, ten departments including the Ministry of Industry and Information Technology issued a notice on the "15th Five-Year Plan for Promoting the Development of Small and Medium-sized Enterprises" to encourage the establishment of small and medium-sized enterprises. Make efficient use of government investment funds at all levels in the field of innovation and entrepreneurship, and drive more patient capital to invest in small and medium-sized enterprises in the seed and start-up stages. Explore typical application scenarios and feasible business models around emerging industries such as new energy, new materials, and robots, as well as future industries such as quantum technology, brain-computer interfaces, and embodied intelligence. Promote the integration of entrepreneurial incubation resources and provide services such as office space, entrepreneurial guidance, consulting and training, investment and financing for small and medium-sized enterprises. Organize innovation and entrepreneurship competitions well, select and discover outstanding entrepreneurial projects, and strengthen support and incubation. Promote the construction of national university science and technology parks, encourage scientific researchers from colleges and universities, scientific research institutes and public institutions to establish science and technology enterprises in accordance with relevant national regulations, and accelerate the marketization of self-owned scientific research results. Establish necessary re-entrepreneurship guidance and assistance mechanisms. A[Venture Capital Pass: 136 financings in the primary market this week, AI infrastructure and other subdivisions are active] "Science and Technology Innovation Board Daily" reported on the 30th, according to Venture Capital Pass data, a total of 136 investment and financing events occurred within the domestic statistical caliber this week (8.22-8.28), and the total disclosed financing was approximately 16.15 billion yuan. Judging from the number of investment events, advanced manufacturing, medical health, artificial intelligence, integrated circuits and other fields are more active; among the subdivided tracks, AI infrastructure, AI industry applications, medical equipment, etc. are more popular among investors. In terms of total financing, advanced manufacturing disclosed the largest amount of financing, approximately 6.625 billion yuan. Xpeng Robotics completed a first-round financing of over US$900 million led by IDG Capital, with participation from Gaorong Venture Partners, Tencent, and Alibaba, making it the largest investment event disclosed this week.
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