Encouraging venture capital and supporting small and medium-sized enterprises – visiting Wang Yiming, vice chairman of the China Center for International Economic Exchanges

"Venture capital is an important source of capital and growth momentum for the development of small and medium-sized enterprises." On October 20, at the 9th China Venture Capital Industry Summit, Wang Yiming, vice chairman of the China Center for International Economic Exchanges, said.

Small and medium-sized enterprises have contributed more than 80% of urban employment to China, and are the main battlefield for entrepreneurship to drive employment. As a new way to support innovation and entrepreneurship, venture capital has a positive role in supporting the development of the real economy, especially technology-based small and medium-sized enterprises.

"The business model of venture capital is highly compatible with the characteristics of high-yield, high-risk and long-term cycle of technology-based enterprises." Wang Yiming said that venture capital is an ideal financing method for technology-based small and medium-sized enterprises, which can provide greater support for those small and medium-sized enterprises that cannot obtain loans from banks but have development prospects.

Wang Yiming believes that based on the new stage of development, venture capital returns to value investment and effectively supports the development of the real economy, especially small and medium-sized and micro enterprises, which is not only the development of venture capital, but also an important policy guidance for government departments. "Venture capital should be encouraged and guided to support small and micro enterprises in the early stage of entrepreneurship, and promote the growth of more small and medium-sized micro enterprises such as specialized new manufacturing champions." He said.

Wang Yiming said that it is necessary to continuously focus on the pain points and difficulties that restrict the development of venture capital, continue to improve relevant institutional mechanisms, and create a good environment for the development of venture capital with greater efforts. Further deepen the combination of simplified administration and decentralization, optimize service reform, activate market vitality, strengthen overall coordination and appropriate post-event supervision, and effectively prevent regional and systemic risks. At the same time, in the practice of innovation, we will discover talents, cultivate talents, gather talents, increase education and training, and attract more outstanding talents to engage in the venture capital industry. (Song Min)

Source: Great River Network