In order to promote the high-quality development of central enterprise venture capital funds and support central enterprises in initiating the establishment of venture capital funds, focusing on early investment, small investment, long-term investment, and hard technology, on December 2, the State-owned Assets Supervision and Administration Commission and the National Development and Reform Commission jointly issued multiple policy measures. To address the issues of state-owned venture capital being "too hesitant to invest" and "unwilling to invest," the two departments also introduced several favorable policies to support state-owned investment "to be more flexible." It mentioned the need to improve the assessment and compliance exemption mechanisms that are suitable for the characteristics of state-owned central enterprises. A full lifecycle assessment mechanism for venture capital funds should be established, focusing on functionality; it should both "calculate the overall accounts," conducting long-cycle assessment and evaluation of the overall investment portfolio; and also "calculate the larger accounts," with assessment and evaluation centered on functional performance, taking into consideration efficiency and return factors, rather than solely pursuing financial returns.