Chinese premier chairs State Council executive meeting

BEIJING -- Chinese Premier Li Qiang on Wednesday presided over a State Council executive meeting to study measures to boost the development of venture capital.

The meeting noted that venture capital is related to sci-tech innovation, industrial upgrading and high-quality development.

Efforts should be made to remove bottlenecks and obstacles in the venture capital cycle, including fundraising, investment, management and exit, according to the meeting. It also said that efforts should be made to support qualified sci-tech enterprises to go public in the domestic and overseas markets, and to promote the virtuous cycle of the venture capital industry.

It is necessary to consolidate the institutional foundation for the healthy development of venture capital, implement key measures for capital market reform, improve the functions of the capital market, and stimulate the vitality of the venture capital market further, it said.

Besides, the meeting listened to a report on the situation of grain production and agricultural work this year.

Measures should be taken to ensure a bumper harvest of autumn grains, including measures to strengthen early warnings and prevent disasters and measures to organize agricultural machinery for harvests.

The meeting also reviewed and adopted a revised draft of regulations on honoring martyrs and a draft of regulations on export controls for dual-use items.