During Shanghai's 2024 PuJiang Innovation Forum (chin. 2024浦江创新论坛), which took place in the second week of September this year, metropolitan authorities announced the creation of another multi-billion-dollar Shanghai Future manufacture Fund (chin. 上海未来产业基金). The fund was named Patience Capital (chin. 耐心资本), and its capital of RMB 10 billion (about PLN 5.54 billion) will be allocated to investments in future technologies.
The Fund in its action will follow government guidelines which late include tolerance for failures. The Fund will focus on breakthrough multidisciplinary innovations at the first phase of their development. The Fund aims to increase investor assurance in technology investment markets at an early phase and advance the transformation of innovative developments into applicable industrial and commercial solutions.
The capital of the fund is full financed by the city budget. The duration of the fund shall be up to 15 years, with an extension of an additional 3 years depending on the circumstances. It will be managed by Shanghai State Investment corp (chin. 上海国投公司). It is known that the industries of the future are mainly high-tech industries that require long-term capital investment and unchangeable political support. Therefore, specified funds are crucial for the improvement from scratch of fresh productivity quality.
The Shanghai-like road is followed by another large cities of China. This is in line with the joint recommendations issued at the beginning of this year:
- Ministry of manufacture and Information Technology (chin. 工业和信息化部),
- Ministry of discipline and Technology (chin. 科学技术部),
- Commission for the Supervision and Administration of State Acts of the State Council (SASAC, chin. 国务院国有资产监督管理委员会) and
- eight another ministries.
Recommendations were published to advance industrial innovation, improvement and implementation of fresh materials, space and energy research, wellness care, technological and technological projects. State institutions encourage leading companies to make innovative consortia and systematically support financial and non-financial investigation and technological development. specified policies are besides intended to encourage banks and financial institutions to increase investment, make peculiar funds for future industries. It is designed to encourage global corporations and abroad investigation institutions to make R & D centres for the most modern technologies in China.
Based on:
- 24h.jrj.com.cn;
- finance.sina.com.cn;
Author: 梁安基 Andrzej Z. Liang, 上海 Shanghai, 中国 China
Email: [email protected]
Editorial: Leszek B.
Email: [email protected]
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