Communist Party journal runs three consecutive commentaries encouraging long-term perspective in funding for technological innovation
The top theoretical journal of China’s ruling Communist Party has run commentaries urging the country to cultivate “patient capital” for three days straight, as Beijing seeks to harness investment to boost long-term innovation amid fears of speculative excess in the artificial intelligence sector.
The three posts, published on Qiushi’s official WeChat account from Wednesday to Friday, were drawn from an article in the journal’s latest issue by Xu Siwei, chairman of the vast Chinese state-owned investment firm China Reform Holdings.
rising great-power competitionon the global stage. “Building a robust patient capital ecosystem with sufficient scale, appropriately matched investment horizons and strong risk tolerance ... has become a strategic, foundational undertaking to strengthen China’s long-term competitiveness and reinforce the foundations of innovation-driven development,” Xu wrote.
has increasingly promoted patient capitalas a source of long-term financing for deep-tech research and development, where lengthy investment cycles and uncertain returns often deter traditional venture capital, amid an intensifying technological rivalry with the United States.
surge in domestic AI-related stocksand concerns that speculative capital could crowd out longer-term investment.