On June 7th, Premier Li Qiang of the State Council presided over an executive meeting of the State Council. The meeting pointed out that the development of venture capital is an important measure to promote a virtuous circle of science and technology, industry and finance. It is necessary to optimize support policies around the whole chain of "fund-raising, management and refund", encourage long-term investment by insurance funds and social security funds, actively attract foreign venture capital funds, broaden exit channels, improve policies such as mergers and acquisitions, and create a good ecosystem to support the development of venture capital. It is necessary to implement differentiated supervision according to the characteristics of venture capital, fine tax preferential policies, support the development of professional institutions, and give full play to the role of early investment, small investment, and hard investment in technology in venture capital.