The China Banking and Insurance Regulatory Commission, together with the Ministry of Science and Technology, the Ministry of Industry and Information Technology and the National Intellectual Property Administration, has issued a set of “Opinions” to accelerate the high-quality development of science and technology insurance and strengthen risk-sharing arrangements for major technological breakthroughs. The package sets out a government-guided, market-based framework to build insurance products and services spanning the full innovation chain and lifecycle, with a focus on national major science and technology tasks and technology-focused small and medium-sized enterprises. Key measures include establishing a national coordination mechanism for insuring major technology research and strengthening multi-layer loss-sharing across policyholders, the insurance market and reinsurance, including the creation of specialised insurance consortia in key technology fields. The framework calls for tailored cover for national laboratories, research institutes, research universities and leading technology firms, and positions Beijing (Beijing–Tianjin–Hebei), Shanghai (Yangtze River Delta) and the Guangdong–Hong Kong–Macao Greater Bay Area as testbeds for “first launch” sci-tech insurance innovation. For tech SMEs, it promotes simplified, reasonably priced products with easier underwriting and claims, encourages enhanced protection for core patent and trademark infringement liability and enforcement costs, and supports local premium subsidies and supply–demand matching platforms in incubators and high-tech parks. The “Opinions” also expand priority lines such as research and development expense loss insurance, technology transfer cost loss insurance, first equipment and first batch comprehensive cover, export credit insurance support for “going global”, intellectual property insurance (including overseas infringement cover) and continued cyber insurance pilots, while steering insurance funds toward major national science projects and venture investment through long-term investment reform pilots and related prudential policy tools. Implementation provisions include inter-agency information sharing, a planned science and technology insurance publicity week, and clarified multi-agency risk prevention responsibilities.

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