Guangzhou Municipal Party Committee Financial Office Deputy Director Wen Keyin stated at a press conference that next steps will continue to create a favorable environment for venture capital and xinxingchanye venture capital, cultivate and strengthen patient capital, guide venture capital and xinxingchanye institutions to accurately meet the financing needs of biomedical enterprises; focus on the growth characteristics and financing needs of biomedical enterprises, carry out efficient incubation, industry-finance connectivity, and listing cultivation work; continue to promote the integration of insurance institutions in Guangzhou with the characteristics of the biomedical industry in Guangzhou, and increase research and development efforts for medical instruments, biomedical, and other products.

Specific measures include guiding venture capital and xinxingchanye and other long-term capital to support the development of the biomedical industry, and increasing support for the biomedical industry. Currently, Guangzhou has invested in over 300 funds in the biomedical field, with a total subscription size exceeding 280 billion yuan. This year, Guangzhou has established an additional 10 billion yuan angel mother fund, and promoted strategic cooperation with five major financial asset management companies (AIC) and multiple investment institutions, focusing on supporting the development of strategic emerging industries such as biomedical and health in the Guangzhou region.

At the same time, Guangzhou will implement the 'Leading Company' listing action plan, establish a reserve of enterprises for listing and a repository of professional service institutions, provide hierarchical and targeted capital market services for biomedical enterprises, and promote the listing of biomedical enterprises. There are currently 23 domestic and foreign biomedical listed companies in Guangzhou, with a total fundraising of approximately 20 billion yuan and a market cap of around 200 billion yuan.