China achieves notable progress in advancing a special pilot initiative aimed at integrating science, technology, industry, and finance.
To date, China’s national platform for the integration of production has brought together 381,000 high-quality enterprises, 3,090 financial institutions, and over 800 financial products. A tripartite information-sharing mechanism among the science and technology, industrial, and financial sectors has been established. More than 150 leading financial institutions have joined efforts to support early-stage hard-tech projects, key industrial transfer initiatives, and advanced manufacturing cluster enterprises, helping to raise 540 billion yuan (about 75 billion U.S. dollars).
"In response to the financing needs of manufacturing enterprises, a range of specialized financial products have been launched, including 'pilot test insurance plus research and development loans', loans for enterprises that utilize specialized and sophisticated technologies to produce novel and unique products, loans for scientific and technological innovation, and loans for digital transformation in manufacturing. Additionally, 17 regional equity markets have established special boards dedicated to enterprises with specialized and sophisticated technologies," said Wei Wei, director of the Department of Science and Technology of the Ministry of Industry and Information Technology.
The ministry stated that it will prioritize early-stage hard-tech projects in key areas such as biomanufacturing, artificial intelligence, digital technology, and the low-altitude economy. It aims to align national innovation resources with financial support to advance a number of high-quality projects.
China achieves notable progress in advancing integration of sci-tech, industries, finance
Russia said on Monday that its armed forces had captured another settlement in the Kharkiv region, while Ukraine reported striking Russian targets and power outages following Russian attacks.
The Russian Ministry of Defense said in its latest report that over the past 24 hours, Russian forces struck 142 areas, including facilities used to transport Western-supplied weapons, as well as ammunition and fuel depots, and temporary deployment sites of Ukrainian forces and foreign mercenaries.
It said Russian forces also destroyed Ukrainian armored vehicles, various types of artillery and other military vehicles, while air defense units shot down 76 Ukrainian drones.
In addition, the ministry said Russian forces had taken control of the settlement of Vilcha in the Kharkiv region.
The General Staff of the Ukrainian Armed Forces said on the same day that 223 combat engagements took place over the past 24 hours.
The Ukrainian Air Force, together with missile units and artillery, struck Russian personnel concentration areas and one key target.
The Ukrainian side said its forces repelled the Russian army's attacks in the directions of Kursk, Kupyansk, Lyman, and Pokrovsk.
Russian forces launched air strikes on power facilities in Odesa region, Zaporizhzhia region, Dnipropetrovsk region and Donetsk region in the early hours of Monday, according to Ukrainian media reports.
As of Monday morning, some areas in those regions were experiencing power outages.
Ukraine's largest private energy company, DTEK Group, said Russian forces attacked two of its power facilities in the Odesa region in the early hours of Monday, causing severe damage.
The company said repairs would take time, adding that continued air raid sirens have complicated the work. Technicians are working to restore key facilities and power supplies as soon as possible.
The Russian side has not commented on the attacks.
Russia captures one more settlement in Kharkiv, Ukraine reports power outages from Russian attacks
