The Several Measures of Chongqing Financially Supporting the Construction of the Western (Chongqing) Science City was recently issued by the Chongqing Municipal People's Government.

To bolster the construction of the Western (Chongqing) Science City, the Measures proposes 20 measures from seven aspects, including collecting venture capital, enhancing direct financing capabilities, strengthening credit resource allocation, guiding the gathering of financial institutions, building comprehensive financial service platforms, accelerating the development of financial technology, and improving the guarantee and support systems.

The Measure is to bolster the construction of the Western (Chongqing) Science City.

Specifically, to support the Western (Chongqing) Science City to advance as a pioneer, the measures include building a financial street with "distinctive characteristics and coordinated development," a venture capital fund town, a capital and project matchmaking platform, and the brand of Chongqing International Venture Conference.

Furthermore, the measures also target share transfer of equity investment funds, providing green channels for the fund to settle in Western (Chongqing) Science City.

In addition, the Measures will support the optimized development of Western (Chongqing) Science City, including building a full-life-cycle equity financing support system based on the development phase of technology-based enterprises, improving the listing mechanism with a focus on cultivating high-tech enterprises, carrying out asset securitization financing for infrastructures, and strengthening the cooperation on technology and finance between Chengdu and Chongqing.

"The Measures is designed for propping up the Western (Chongqing) Science City to deepen financial openness and cooperation, optimize the financial, ecological environment, and attract venture capital, thus financially enabling a greater driving force to the development of Western (Chongqing) Science City," said a source from Chongqing High-Tech Industrial Development Zone.