New policy measures to strengthen financial support for China's innovative science and technology enterprises have been rolled out, officials from the Ministry of Science and Technology (MOST) said at a press conference in Beijing on Thursday.
The 15 measures, implemented by seven different government agencies, aim to encourage early-stage, small-scale and long-term investment in core technologies and to expand credit access for sci-tech businesses.
The policies will establish financial support mechanisms targeting major national sci-tech projects, and increase funding for leading technology enterprises and national scientific research platforms.
Among the measures is the establishment of a sci-tech board in the bond market, which will help raise long-term, low-interest, and accessible bond funding for sci-tech innovation, the People's Bank of China, the country's central bank, said.
So far, nearly 100 Chinese institutions have issued over 250 billion yuan (around 34.7 billion U.S. dollars) worth of sci-tech innovation bonds.
The National Financial Regulatory Administration has also announced that it is pushing for the participation of insurance funds in major national sci-tech projects to provide full-cycle risk protection and financial support for tech-driven companies.
The China Securities Regulatory Commission (CSRC) also said it will support tech companies that are advancing core technologies, by implementing a "green channel" policy offering these companies a more adaptable and inclusive regulatory framework to foster their growth and innovation.
New policy measures rolled out to support China’s innovative sci-tech enterprises
