People's Bank of China and three agencies convene technology finance work meeting to strengthen coordination and channel funding to innovation

The People's Bank of China, the Ministry of Science and Technology, the National Financial Regulatory Administration and the China Securities Regulatory Commission jointly held a technology finance work exchange and promotion meeting to strengthen inter-agency and central-local coordination and accelerate delivery of technology finance policies. The discussion framed priorities for building a technology-finance system aligned with national science and technology innovation goals, including improving how financial service supply matches innovation demand. Participants reviewed reported progress over the past year, including expanded loan services for small and medium-sized technology firms, stronger technology insurance risk protection, faster development of the bond market “technology board”, and increased venture capital and private equity investment alongside regional technology finance innovation practices. The forward work programme focused on improving the technology finance coordination mechanism, expanding information sharing, accelerating development of a technology factor market, upgrading specialised capabilities and products suited to high-tech sectors, and leveraging tools such as the science and technology innovation and technological transformation re-lending facility, the equity investment pilot for financial asset investment companies, merger and acquisition loans and the bond market “technology board” to target financial resources more precisely at science and technology innovation.