The People's Government of Beijing Municipality recently issued the List of Key Tasks in the Work Report of the People's Government of Beijing Municipality in 2022. On the list, the top priority for Beijing's Five Key Projects—"Accelerating the Construction of National Center for Science & Technology Innovation (NCSTI) and Building New Advantages in Innovation-driven Development"—ranks third, with 30 key tasks under it, including "Supporting the Sound Development of Beijing Fund Town".

Beijing constructed the NCSTI for building China into a science and technology power in the world, and this is also a key step for Beijing to achieve high-quality development. Earlier this year, the Fifth Session of the 15th Beijing Municipal People's Congress reviewed and approved the Government Work Report, which clearly stated "Accelerating the Construction of NCSTI and Building New Advantages in Innovation-driven Development". It is also included in the List of Key Tasks in the Work Report of the People's Government of Beijing Municipality in 2022, together with the other ten proposals, detailedly with 320 key tasks under them in total, each of which is marked with the main responsible unit to promote the practical implementation of tasks.

Over recent years, the private fund has steadily developed and played an increasingly important role in increasing direct financing, promoting innovative capital formation, and supporting scientific and technological innovation and industrial restructuring. According to the data released by the Asset Management Association of China (AMAC), as of December 30, 2021, 24,577 private fund managers had been registered and in operation, with assets under management of RMB 19.78 trillion. China's scale of private equity and venture capital funds ranks second in the world. Since the pilot of the registration-based IPO system, more than 80 percent of the companies listed on the STAR market and more than 60 percent of the companies listed on ChiNext have won support from private equity and venture capital funds.

Beijing Fund Town is a national-level characteristic town with "Fund" as its leading industry in China and a pilot town for the standardization of national-level fund institution services. It has steadfastly upheld the new development philosophy as the guide, integrated itself deeply into the coordinated development of Beijing-Tianjin-Hebei region, and resolutely implemented the strategic positioning of Beijing as the capital. It has also given full play to the effect of the fund industry cluster to build itself into a micro-financial center and an honest and safe fund town in Beijing. As of January 31, 2022, 1,683 funds and related industry-chain institutions, with a registered capital of RMB 182.4 billion, had been settled in the town, which has developed into the largest and most influential fund industry cluster zone in China.

Over the past six years since its inception, Beijing Fund Town has seized opportunities arising from China's scientific & technological innovation and capital integrated development, and built a professional fund services platform and a fund industry ecosystem. It has explored a mechanism for realizing the value of technological innovations and distributing benefits for win-win cooperation, established an ecosystem for the scientific and technological community-driven development of science, technology, and economy, and co-sponsored the "Innovation China" consortium with 88 units. It has actively cooperated with the pilot work of private equity investment and venture capital share transfer, attracting and serving the first S Fund and other fund institutions to settle down in the town. It has reached a strategic partnership with Beijing Equity Trading Center and published S fund series courses to promote ecosystem construction in the industry. It has continuously broadened its investment and financing matchmaking channels through the "1+N" strategic partnership model. It has cooperated with industry associations, industry parks, and incubators such as the AMAC, China Association of Small and Medium Enterprises, Zhongguancun Life Science Park Haichuang Park, Haidian Haichuang Park, For Founders, and Entrepreneur's Training Camp of Peking University, holding investment forums and project roadshows with investment and financing matchmaking activities covering 26 sectors, attracting more than 1,000 investment institutions and more than 500 innovation companies. With online + offline resources into a joint force, it duly matches entrepreneurs and investors, effectively guides the flow of financial capital into real economies, and promotes the circulation among science & technology, capital, and real economies. It supports entrepreneurship and innovation, facilitates the construction of the NCSTI, and builds new advantages in innovation-driven development, boosting the high-quality development of the Chinese economy.