The Ministry of Commerce, Ministry of Foreign Affairs, National Development and Reform Commission and other ten departments recently jointly issued the "Several Policy Measures on Further Supporting Overseas Institutions to Invest in Domestic Science and Technology Enterprises" (hereinafter referred to as the "Several Measures"), focusing on the business characteristics of overseas institutions and the development needs of domestic science and technology enterprises, proposing 16 measures in four aspects: optimizing management services, increasing financing support, strengthening exchange and cooperation, and improving exit mechanisms. Optimize management services. Efficient and lawful approval of qualified foreign institutional investor (QFII) and RMB qualified foreign institutional investor (RQFII) qualification applications. Support overseas institutions to invest in domestic technology-based enterprises through qualified overseas limited partners (QFLP). Clearly define the establishment of venture capital funds by overseas institutions within the country, treating them equally with domestic venture capital funds. Increase financing support. Actively support overseas institutions and their invested technology-based enterprises to expand financing channels and enrich the sources of science and technology innovation funds. For overseas institutions, relevant departments will continue to steadily and orderly promote high-level two-way opening of the bond market, support eligible overseas institutions to issue RMB bonds in China, and invest in the technology field. For technology-based enterprises, the China Securities Regulatory Commission will continue to guide the regular issuance of technology innovation corporate bonds on the Shanghai and Shenzhen Stock Exchanges, with a focus on supporting the development of technology innovation in high-tech industries, strategic emerging industry segments, and leading industrial transformation and upgrading. Strengthen communication and cooperation. "Several Measures" support overseas institutions to leverage their own advantages, fully tap into high-quality targets, and promote efficient investment docking. The relevant departments will continue to play the role of the National Science and Technology Achievement Transformation Guidance Fund, deeply implement the "Science and Technology Industry Financial Integration" special project, organize special roadshows, build a deep docking platform for early hard technology projects and frontline investment institutions, promote cooperation between high-quality small and medium-sized enterprises and overseas institutions, and support overseas institutions to increase investment in areas such as enterprise gradient cultivation and innovation achievement transformation. Improve the exit mechanism. Whether investment exit can be achieved smoothly and efficiently is a common concern for overseas institutions in the preliminary research, and it is also a key content of Several Measures. The China Securities Regulatory Commission and other departments have launched a series of supporting measures around exit channels such as overseas listings, mergers and acquisitions, and share transfers. We will continue to improve the quality and efficiency of overseas listing filing management, accelerate the progress of filing procedures, and continuously smooth the channels for technology-based enterprises to go public overseas. The Ministry of Commerce is leading the revision of the Measures for the Administration of Strategic Investment by Foreign Investors in Listed Companies, further relaxing restrictions on foreign investors' strategic investment in listed companies. (Lai Xin She)