金融支持科技创新有力有效

Core Viewpoint - The article emphasizes the importance of financial services in supporting technological innovation, highlighting the need for a diversified financial system that caters to the varying financing needs of technology enterprises at different life cycles [1][2]. Policy Framework - China is at a critical stage in building a strong technological nation, with the role of technology finance becoming increasingly prominent. Traditional financial institutions tend to favor low-risk projects, which poses challenges for technology-intensive enterprises that often lack collateral [2][4]. - The People's Bank of China has been enhancing the policy framework for financial support of technological innovation, leading to a significant increase in loans for technology innovation and transformation, with a total signed amount exceeding 22 trillion yuan and loans issued surpassing 850 billion yuan as of June [2][4]. Credit Support - The financial system in China primarily relies on indirect financing, with a strong emphasis on credit support for technological innovation. As of June, the balance of technology loans reached 44.1 trillion yuan, growing by 12.5% year-on-year, outpacing the overall loan growth rate by 5.8 percentage points [4][5]. - The average interest rate for newly issued technology loans was 2.90% in June, which is lower than the overall corporate loan rate, indicating a downward trend in technology loan rates [4][5]. Loan Accessibility - The loan approval rate for technology enterprises remains high, with 1.085 million enterprises receiving technology loans, and the average approval rate for technology enterprises at 51.9% as of June [5]. - Specialized products for technology loans and differentiated risk tolerance policies have been developed to effectively address the challenges of "difficult and expensive loans" for technology enterprises [5]. Financing Channels - The bond market has been identified as a key channel for direct financing, with the introduction of the "technology board" to support the issuance of technology innovation bonds by various entities [6][7]. - As of June, 94 technology enterprises issued 166.37 billion yuan in technology innovation bonds, enhancing the financing channels for technology enterprises and facilitating the transformation of technological achievements [7][8]. Institutional Response - Financial institutions have actively engaged in bond issuance and underwriting, with 23 institutions issuing 220.6 billion yuan in technology innovation bonds by June, aimed at financing technology enterprises [8]. - Future policies will continue to enhance financial support for technology innovation, particularly for small and medium-sized technology enterprises, fostering a robust financial ecosystem for technological self-reliance [8].