China is rolling out measures to boost development of its unicorns- the typically tech related startups that are valued at more than a billion U.S. dollars.

In a recent statement, the State Council outlined several policies to support unicorns that include long-term government-backed capital funds to create quote "patient" capital for the firms.

The idea is to provide consistent and sufficient financial support so unicorns can realize their full potential.

Other measures outlined in the statement include opening more IPO listing channels on China's stock exchanges to give unicorns solid exit strategies.

Still other policies that were instated are aimed at helping unicorns protect their intellectual property rights.


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