上半年我国科技金融政策成效显著

Core Insights - The effectiveness of China's technology finance policies in the first half of 2025 is highlighted, with significant growth in technology loans and innovative financial measures [1][2][3] Group 1: Technology Loan Growth - As of the end of May, the signed contracts for technology innovation and technological transformation loans reached 1.74 trillion yuan, with a year-on-year growth of 12%, surpassing the overall loan growth rate [1] - The total amount of technology innovation and technological transformation loans signed by banks and enterprises reached 1.7 trillion yuan, which is 1.9 times that of the end of 2024 [1] Group 2: Bond Market Innovations - The establishment of the "Technology Board" in the bond market is a key innovative measure, allowing financial institutions, technology enterprises, and equity investment institutions to issue technology innovation bonds [2] - By June 30, 288 entities had issued approximately 600 billion yuan in technology innovation bonds, with over 400 billion yuan issued in the interbank market [2] Group 3: Support for Equity Investment Institutions - The People's Bank of China has created a risk-sharing tool for technology innovation bonds, providing low-cost re-lending funds to support equity investment institutions in issuing bonds [2] - As of June 30, 27 equity investment institutions issued technology innovation bonds totaling 15.35 billion yuan, with five private equity institutions benefiting from the risk-sharing tool [2] Group 4: Overall Financial Support - The financial data from the first half of the year indicates a clear effect of monetary policy in supporting the real economy, with inclusive small and micro loans growing by 11.6% year-on-year and manufacturing medium to long-term loans increasing by 8.8% [3] - The People's Bank of China plans to continue utilizing the risk-sharing tool for technology innovation bonds to foster the development of the technology innovation bond market [3]