Jing Ji Ri Bao·2025-11-15 23:03Core Viewpoint - The Chinese government is enhancing financial support for new industrialization through various banks and financial institutions, aiming to strengthen the manufacturing sector and promote technological innovation [2][3][4]. Group 1: Financial Support Initiatives - The People's Bank of China and other departments issued guidelines to accelerate financial support for new industrialization, with banks like China Construction Bank and Bank of China developing implementation plans [2]. - China Construction Bank aims to provide over 5 trillion yuan in financing to various manufacturing entities over the next three years, focusing on key areas and weak links in new industrialization [2]. - Bank of China reported a supply chain financing balance and loans to technology enterprises exceeding 2.3 trillion yuan, indicating strong growth in financial support for industrial sectors [3]. Group 2: Technological Innovation Financing - The financing support for technology-driven small and medium-sized enterprises (SMEs) has increased, with 275,400 SMEs receiving loans, achieving a loan approval rate of 50.3%, up by 2.8 percentage points year-on-year [4]. - The total loan balance for technology SMEs reached 3.56 trillion yuan, growing by 22.3% year-on-year, which is significantly higher than the growth rate of other loan categories [4]. - Banks are innovating their credit models to assess technology and team capabilities, moving towards a comprehensive financial service model for technology enterprises [4][5]. Group 3: Diversification of Financing Channels - Banks are enhancing their offerings by developing technology innovation bonds and knowledge property pledge loans, creating a service ecosystem that combines debt, equity, and platforms [6]. - China Construction Bank has actively participated in the issuance of technology innovation bonds, with the first bond launched in May, aimed at funding technology enterprises and strategic emerging industries [6]. - Bank of China has provided over 20 billion yuan in financing support for mergers and acquisitions of quality technology enterprises across various cities [6]. Group 4: Collaborative Financial Ecosystem - The construction of a technology finance ecosystem should focus on the comprehensive needs of technology enterprises, integrating resources for collaborative development [7]. - There is a call for enhancing direct financing mechanisms, particularly in stock and bond markets, to better support technology enterprises [7]. - The establishment of a market mechanism for "patient capital" is essential to attract various long-term investments to support technological innovation [7].