The Central Financial Work Conference proposed to do a good job in science and technology finance, green finance, inclusive finance, pension finance, digital finance five major articles.

"Doing a good job in the 'five big articles' such as science and technology finance is an important focus of financial services for the high-quality development of the real economy, and an important content of deepening the structural reform of the financial supply side." In the past few years, the investment of financial resources in science and technology and other fields has grown at a relatively fast pace." People's Bank of China Governor Pan Gongsheng introduced. In recent years, the People's Bank of China has guided financial institutions to increase support for scientific and technological innovation, led the formulation of the Action Plan to Increase Support for Financing of Scientific and Technological Enterprises, set up new structural monetary policy tools to support scientific and technological innovation, guided financial institutions to innovate scientific and technological financial products and business models, strengthened incentive and restraint mechanisms, and continuously improved the scientific and technological innovation capability and level of financial services. We will prudently promote the development of pilot zones for the reform of the science and innovation financial sector.

In order to strengthen the financing support for early-stage science and technology enterprises, in April this year, the People's Bank of China jointly with the Ministry of Science and Technology and other departments set up 500 billion yuan of science and technology innovation and technological transformation re-loans, of which 100 billion yuan quota is specifically used to support the first loan of early-stage and grown-stage science and technology smes, and encourage financial institutions to invest more vigorously in early, small and hard technology. Deep integration of re-lending and science and technology policies, relying on the "innovation points system", select science and technology enterprises with strong innovation ability and growth, and guide financial institutions to provide accurate support. At present, the first batch of 7,000 enterprise information has been pushed to 21 national banks, loans continue to land. In May this year, the State Financial Supervision and Administration issued the "Guidance on the Banking and Insurance industry to do a good job in the financial", requiring that the level of funds and insurance guarantees for the transfer and transformation of research and development activities and scientific and technological achievements be significantly improved, and the risk sharing mechanism of science and technology and finance be continuously optimized, and strive to form a virtuous circle of "science and technology - industry - finance".

With the support of a series of policies, the development of science and technology finance in China has achieved positive results, as of the end of June this year, the balance of long-term loans to high-tech manufacturing increased by 16.5%, and the balance of loans to specialized new enterprises increased by 15.2%, which was significantly higher than the average growth rate of various loans in the same period. As of the end of March this year, Kechuang bills issued a total of 560 billion yuan.

Recently, the seven departments jointly issued the "Work Plan on Solid Science and Technology financial articles", strengthen the construction of basic institutions, improve the incentive and restraint mechanism, promote financial institutions and financial markets to comprehensively improve the capacity, intensity and level of science and technology financial services, and accurately support key areas such as major national science and technology tasks and the cultivation and development of science and technology enterprises.

Pan Gongsheng said that science and technology enterprises generally go through different stages such as seed stage, initial stage, growth stage and maturity stage. In the early stage of growth, more venture capital intervention is needed, which is still a weak link, and the risk assessment ability of financial institutions to science and technology enterprises needs to be further improved. It is necessary to strengthen top-level design and policy supply, provide full chain and full life cycle financial services for science and technology enterprises, and in particular, support the financing of early-stage science and technology enterprises as a top priority. Strengthen the guidance and incentives for financial institutions, accelerate the implementation of scientific and technological innovation and technological transformation of re-lending policy tools, and vigorously support the first loan of small and medium-sized enterprises in science and technology and large-scale equipment renewal in key areas. We will carry out projects to enhance the capability of scientific and technological financial services, and improve the internal incentive and restraint mechanisms of financial institutions. We will improve the level of financial services in areas with intensive science and technology factors, give full play to the pioneering and pilot role of science and innovation financial reform pilot zones, and form a typical model that can be replicated and promoted.

Source: Chinese government website