On September 22, 2017, theAnnual Report on the Eco-system of Science and Technology Finance in China (2017)jointly prepared by the Chinese Academy of Science and Technology for Development, China Association for Promotion of Science & Technology and Finance and the Shanghai Institute for Science of Science was released at the 2017 Pujiang Innovation Forum. This is the third research report on the eco-system of science and technology finance in China published by the three institutions. The release was covered on site by CCTV, Science and Technology Daily, and Jiefang Daily. The report highlighted the following features of the eco-system of science and technology finance in China: First, the focus of innovation and entrepreneurial entities is shifting from scale expansion to specialized and streamlined operation; second, science and technology credit products are becoming diversified; third, venture capital investment is getting more active; fourth, venture capital investment is embracing a “spring” of preferential tax policies; fifth, the multi-tiered capital market is in better shape; sixth, overseas mergers and acquisitions are growing in size; seventh, new forms of science and technology insurance business are emerging. The report, which consists of an overview of the situation, progress in various sectors, discussions on specific topics, and a recap of major events and policies, has adopted a macro perspective in the observation of individual units of the eco-system of science and technology finance in an effort to explore the laws governing the development of science and technology finance.