On April 13th, at the kickoff meeting of the Technology and Finance Committee of the International Financial Forum (IFF) today, Zhou Daoxu, Director of the Financial Security Research Center at Tsinghua University’s Institute of Financial Technology, stated that the contradiction between short-term profit seeking social capital and long-term research and development of hard technology is the essence of the patient capital problem. Solving this problem requires policy tool reform, establishment of risk sharing mechanisms, and reconstruction of patient capital. The government should transform its policy tool functions from direct blood transfusion to indirect empowerment, such as providing R&D subsidies and utilizing technology enterprises’ intellectual property financing. At the same time, establish a tripartite risk sharing mechanism between the government, financial institutions, and enterprises, with the government funding the establishment of a risk compensation fund to increase the proportion of losses borne. In addition, it is necessary to develop secondary mergers and acquisitions, S funds, etc., and broaden exit channels. (Caixin reporter Gao Ping)
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