The People's Bank of China and three other departments: Hurry up to formulate implementation measures to increase support for financing of technology-based enterprises.

Zhitong App learned that on November 20th, the People's Bank of China, the Ministry of Science and Technology, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission jointly held a conference on the promotion of science and technology finance. The meeting emphasized that financial regulatory authorities, science and technology departments, and financial institutions should fully implement the important deployment of the Party Central Committee to accelerate the construction of a strong science and technology country and a strong financial country. They should enhance their sense of mission and responsibility, establish and improve the institutional mechanisms for promoting science and technology finance, and urgently formulate implementation measures to increase support for financing of technology-based enterprises, and promote the implementation of the work. Furthermore, they should further improve the financial support policy system for national major scientific and technological tasks and technology-based small and medium-sized enterprises, and organize special actions to enhance the service capabilities of science and technology finance. They should strengthen supporting measures such as sharing of scientific and technological public information, financing guarantees, and intellectual property evaluation and transactions, and improve the statistical and evaluation system for science and technology finance. They should adhere to the general principle of seeking progress while maintaining stability and coordinate financial support with risk prevention.

Original text:

The People's Bank of China, the Ministry of Science and Technology, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission jointly held a conference on the promotion of science and technology finance

In order to implement the spirit of the Central Financial Work Conference, further strengthen and improve the work of science and technology finance, on November 20th, the People's Bank of China, the Ministry of Science and Technology, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission jointly held a conference on the promotion of science and technology finance. Zhang Qingsong, Deputy Governor of the People's Bank of China, Wu Zhaohui, Deputy Minister of Science and Technology, and Zhou Liang, Deputy Director of the China Banking and Insurance Regulatory Commission, attended the meeting and delivered speeches.

The meeting pointed out that the Central Financial Work Conference emphasized that finance should provide high-quality services for economic and social development, and pointed out the direction for doing a good job in finance in the new era and on the new journey. Doing a good job in science and technology finance is an important part of improving the quality and efficiency of financial services to the real economy and promoting high-quality development. Financial regulatory authorities, science and technology departments, and financial institutions should unify their thinking and actions with the decision-making and deployment of the Party Central Committee, deeply understand the significance of doing a good job in science and technology finance, vigorously support the implementation of the innovation-driven development strategy, and use more financial resources to promote technological innovation. They should focus on the key areas of technological innovation and the weaknesses of financial services, deepen the supply-side structural reform of finance, promote the improvement of a comprehensive and multi-level science and technology finance service system including credit, bonds, stocks, insurance, venture capital, and financing guarantees, continuously improve the ability, intensity, and level of financial support for technological innovation, and contribute financial strength to accelerate the realization of high-level technological self-reliance and self-improvement.

The meeting believed that in recent years, financial regulatory authorities, science and technology departments, and financial institutions have taken multiple measures to strengthen the construction of the science and technology finance service system, and have achieved positive results. Loans for high-end manufacturing, loans for specialized and innovative enterprises, loans for technology-based small and medium-sized enterprises, etc. have maintained a high growth rate, and the convenience of credit financing for technology-based enterprises has continued to improve. The construction of the science and technology innovation board and the Beijing Stock Exchange and the reform of the registration system have been further promoted, the scale of issuance of science and technology innovation bills and corporate bonds has continued to expand, and the direct financing channels for technology-based enterprises have become more smooth. The quality and efficiency of financial services such as technology insurance, financing guarantees, and venture capital have continued to improve, and the science and technology finance ecosystem has been cultivated at an accelerated pace. The pilot zones for science and technology finance reform and the pilot projects for science and technology finance in high-tech zones have been steadily promoted, playing a leading role in exploring new paths and models for science and technology finance. The meeting emphasized that financial regulatory departments, technology departments, and financial institutions should thoroughly implement the important deployment of the Party Central Committee to accelerate the construction of a technology and financial powerhouse, enhance their sense of mission and responsibility, establish and improve the institutional mechanisms for promoting technology and finance, and urgently formulate implementation measures to increase support for financing of technology-based enterprises, and promote the implementation of the work. Further improve the policy system for financial support in two key areas: national major scientific and technological tasks and technology-based small and medium-sized enterprises, and organize special actions to enhance the capacity of technology and finance services. Strengthen supporting measures such as sharing of scientific and technological public information, financing guarantees, and intellectual property evaluation and transactions, and improve the statistical and evaluation system for technology and finance. Adhere to the general principle of seeking progress while maintaining stability, and coordinate financial support and risk prevention. Financial institutions should further improve product services, risk management, and organizational structure that are tailored to the characteristics of technology-based enterprises, optimize policy arrangements such as internal fund transfer pricing, performance evaluation, and due diligence exemption, and enhance the pertinence, accuracy, and effectiveness of financial support.

The meeting was held in the form of a video conference. Financial institutions such as the China Development Bank, Industrial and Commercial Bank of China, CITIC Bank, Industrial Bank, China Life Insurance (Group) Company, and CICC Capital exchanged their work experiences. The Science and Technology Department of Shandong Province and the Hubei Branch of the People's Bank of China introduced their work situations. The People's Bank of China, the Ministry of Science and Technology, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange, as well as 21 national banks, some insurance companies, and venture capital institutions, attended the main venue. Representatives from the branches of the People's Bank of China, Science and Technology Department (Bureau, Commission), Securities Regulatory Bureau in provinces, autonomous regions, and municipalities directly under the central government, as well as the regulatory bureaus of the State Administration of Financial Regulation and some local financial institutions, attended the sub-venues.

This article is selected from the WeChat official account "People's Bank of China", edited by Zhitong App: Yan Wencai.