强联动建生态 科技金融新探索跑出“深圳速度”

Core Insights - Shenzhen is leading a transformation in emerging and future industries through innovative financial services that empower technological innovation [1] - The "Tengfei Loan" model allows banks to share in the growth of enterprises without diluting equity, addressing the funding needs of high-growth tech companies [2][3] Group 1: Financial Innovations - As of October 2025, Shenzhen's technology loan balance reached 2.2 trillion yuan, positioning it among the top cities in China [2] - The "Tengfei Loan" has evolved from a model linking loan rates to business performance to a version that allows banks to share in excess value generated by companies, with 146 enterprises signing agreements totaling 8.63 billion yuan by the end of November [2] - The "Tengfei Loan" 3.0 version enables banks to assess the future valuation changes of companies and share a portion of the excess value, thus not diluting company equity [2][3] Group 2: Support for Startups - The "Seed Loan" initiative targets early-stage tech companies lacking qualifications and stable cash flow, providing government-backed loans to overcome traditional financing barriers [5][6] - The "Seed Loan" has served 1,052 seed-stage tech companies, providing a total of 919 million yuan in financing [6] Group 3: Ecosystem Development - The collaboration between various financial institutions is essential for building a robust tech finance ecosystem, which helps mitigate risks and leverage the expertise of different financial entities [7] - The introduction of the "Technology Board" in the bond market has created new financing channels for tech companies, enabling them to raise long-term funds for hard tech sectors [8] - The partnership between investment firms and banks, such as the collaboration between Oriental Fortune and Construction Bank, facilitates access to unsecured loans for projects backed by investment firms [8]