The Social Security Foundation will set up a social security fund, the first phase of the Zhongguancun Independent Innovation Special Fund will be 5 billion yuan.

[social Security Foundation to set up Social Security Fund Zhongguancun Independent Innovation Special Fund with a scale of 5 billion yuan] the Social Security Foundation announced that it would set up a "Zhongguancun Independent Innovation Special Fund". The Zhongguancun Independent Innovation Special Fund is independently funded by the Social Security Fund, with an initial scale of 5 billion yuan. It is proposed to select market-leading institutions as managers to carry out investment in a market-oriented manner. The Social Security Foundation and the relevant departments of the Beijing Municipal Government form a strategic committee to guide the investment direction of the fund and evaluate the investment performance. With a term of more than 10 years, the fund will mainly invest in early and growing science and technology start-up enterprises in Zhongguancun, focusing on supporting the transformation of the achievements of science and technology start-up enterprises.