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为科技企业提供接力式金融服务
Jing Ji Ri Bao·2025-06-24 22:08

Core Viewpoint - The development of a technology finance ecosystem is essential to meet the financing needs of technology enterprises throughout their lifecycle, from startup to maturity, emphasizing the importance of patient capital and collaborative investment models [1][2][3]. Group 1: Technology Finance Ecosystem - The Ministry of Science and Technology and six other departments released policies in May 2023 to accelerate the construction of a technology finance system, highlighting its role in promoting deep integration of technological and industrial innovation [1]. - Industry experts advocate for a systematic, full-chain, and integrated technology finance ecosystem to support technology enterprises effectively [2]. - Financial institutions must adapt their evaluation criteria to focus on technology rather than traditional financial metrics, as technology enterprises' core value lies in their innovations [1][3]. Group 2: Collaborative Financial Services - A comprehensive financial service model is needed, which includes direct investment, investment banking, commercial banking, insurance, and guarantees to support technology enterprises at various stages [2]. - Clear division of responsibilities among financial institutions, market players, and regulatory bodies is crucial for effective service delivery [2][3]. Group 3: Product and Service Adaptation - Financial institutions should shift their focus from what they can provide to what technology enterprises need, continuously upgrading their products and services to meet the specific demands of different lifecycle stages [3]. - A robust supporting mechanism is necessary to address the unique characteristics of technological innovation, including profit-sharing, risk-sharing, and accountability frameworks [3]. Group 4: Innovative Investment Models - The integration of equity financing, debt financing, and insurance is essential for providing comprehensive financial services to technology enterprises [4]. - China Life Insurance is exploring a new "S Fund Relay Investment" model, which allows insurance funds to invest in technology enterprises at a more mature stage, enhancing the efficiency of government funds [6]. Group 5: Stable Funding Sources - Policy-based finance plays a strategic role in supporting technology enterprises by providing long-term and patient capital, especially during the product commercialization phase [7]. - The Export-Import Bank of China aims to enhance support for high-tech product export enterprises, facilitating technology upgrades and digital transformation [8][9].