Xinhua News Agency, Beijing, December 26 (Reporter Wei Yukun) The reporter learned from the National Development and Reform Commission that on December 26, the National Venture Capital Guidance Fund was launched, and three regional funds, the Beijing-Tianjin-Hebei Venture Capital Guidance Fund, the Yangtze River Delta Venture Capital Guidance Fund, and the Guangdong-Hong Kong-Macao Greater Bay Area Venture Capital Guidance Fund, were established and put into operation.

Bai Jingyu, Director of the Department of Innovation and High-tech Development of the National Development and Reform Commission, said that the Guidance Fund has played a leading role as central funds, widely attracting the participation of local governments, central enterprises, financial institutions, private capital and other parties, forming a capital scale of one trillion yuan. Through investment in funds, enterprises and projects, it will increase support for strategic emerging industries and future industries, and accelerate the cultivation and development of new productive forces.

According to reports, the guidance fund has a 20-year duration, including a 10-year investment period and a 10-year exit period. Through a longer investment period, it provides long-term capital supply for enterprises; and through a looser exit time limit, it provides enterprises with more development space, uses patient capital to accompany enterprises in their "long-distance running", and cultivates "little giants" and "unicorns" in various industries.

Huo Fupeng, director of the Innovation-Driven Development Center of the National Development and Reform Commission and chairman of the National Venture Capital Guidance Fund Co., Ltd., said that on December 26, 3 regional funds had signed investment intentions with 49 sub-funds and 27 direct investment projects. The management team has fully communicated with each fund and project, and it is expected to complete a number of key sub-funds and direct investment project investments in the near future. In the future, the Guidance Fund will promote the establishment of more than 600 sub-funds in three regions to serve emerging industries and future industry development.