CICC(601995) 中国经济网· Zhong Guo Jing Ji Wang·2025-06-03 07:45Group 1 - The book "Building a Financial Powerhouse: Technology Finance" is published as part of China's 14th Five-Year Plan and aims to establish a knowledge system for technology finance in China [1] - The macro perspective emphasizes that economies of scale are crucial for understanding technology finance, highlighting the importance of both supply-side and demand-side factors in driving innovation [1] - The book discusses the need for both catch-up and leading innovations to address challenges in international competition, stressing the role of banking and capital markets in supporting these innovations [1] Group 2 - Funding for innovation activities can be sourced from fiscal, banking, and capital market channels, with fiscal support being essential due to the strong positive externalities of scientific research [2] - The capital market's ecological and screening effects are better suited to support high-uncertainty leading innovations, necessitating a coordinated approach between fiscal, banking, and capital market resources [2] - The book analyzes private equity markets, A-shares, Hong Kong stocks, and investor protection, aiming to derive public policy implications for enhancing technology finance [2] Group 3 - As a state-owned financial institution, the company actively contributes to China's technological innovation through a mature "investment + investment banking + research" collaborative mechanism [3] - In 2024, the company facilitated approximately RMB 470 billion in transactions for technology innovation enterprises and established 36 new funds exceeding RMB 55 billion to support sectors like semiconductors and new energy [3] - The company plans to continue supporting high-quality development of the real economy and contribute to China's modernization through comprehensive financial services [3]