China Outlines Development Strategy for the Five Key Focus Areas of Finance

On March 5, 2025, the General Office of the State Council released the Guiding Opinions on Effectively Implementing the Five Key Focus Areas of Financial Work (the “Guide Opinions”), which took effect on March 2, 2025. The document outlines 20 specific measures.

The Guide Opinions propose financial support for major national scientific and technological initiatives and technology-based SMEs, optimizes the financing environment for such enterprises, promotes the development of equity investment, venture capital, and angel investment, and supports the cultivation of technological leaders, unicorn companies, and specialized, innovative SMEs. It also aims to improve the policy framework for financing private enterprises and legally integrate digital financial innovation into the regulatory system. Additionally, it proposes establishing a streamlined approval mechanism (“green channel”) for IPOs, mergers, acquisitions, and reorganizations, while enhancing equity financing support for technology enterprises that achieve breakthroughs in core technologies. The document also emphasizes revitalizing the M&A market and facilitating the efficient integration of technology-driven and green industries.