央行副行长、国家外汇局局长朱鹤新：提升科技贷款投放强度和服务能力

Core Viewpoint - The development of technology finance is essential for promoting the deep integration of technological innovation and industrial innovation, with recent policies aimed at enhancing the technology finance service system and facilitating the conversion of technological achievements into productive forces [1][2]. Group 1: Policy Initiatives - Multiple departments have issued policies to accelerate the construction of a technology finance system that supports high-level technological self-reliance and strength [2]. - The People's Bank of China has increased the scale of re-loans for technological innovation and technological transformation to 800 billion yuan, while lowering the re-loan interest rate to 1.5% to provide more precise loan support for enterprises [2][3]. Group 2: Bond Market Development - The establishment of a "technology board" in the bond market is underway, with approximately 100 institutions having issued technology innovation bonds totaling over 250 billion yuan [3]. - There is a focus on fostering a technology finance ecosystem that encourages collaboration among various financial institutions and supports major technological tasks [3]. Group 3: Support for Technology Enterprises - The China Securities Regulatory Commission is implementing measures to optimize the domestic listing environment for technology enterprises, including a flexible new stock issuance mechanism and support for red-chip technology companies returning to domestic listings [4]. - There is a targeted approach to support "hard technology" enterprises, including the use of a "green channel" policy for companies that break through key core technologies [4]. Group 4: Mergers and Acquisitions - Continued support for mergers and acquisitions is emphasized, with a focus on guiding resources towards technological innovation and industrial upgrading [5]. - The capital market is seen as a primary channel for corporate mergers and reorganizations, with encouragement for technology companies to utilize various payment tools for restructuring [5]. Group 5: Long-term Capital Support - Initiatives are in place to support private equity funds in acquiring listed companies for the purpose of promoting industrial integration [6]. - The financial regulatory authority is conducting pilot programs to enhance long-term capital support for technology enterprises, with significant amounts already committed [7]. Group 6: Overall Strategy - Recent meetings among multiple departments have reinforced the commitment to building a technology finance system that aligns with technological innovation, emphasizing early, small, long-term, and hard technology investments [7]. - Experts believe that accelerating the construction of a technology finance system with Chinese characteristics will help overcome constraints on technological innovation and enhance the supply of innovation capital [7].