Core Viewpoint - The document outlines a series of financial policy measures aimed at supporting new industrialization, emphasizing the need for optimized funding structures and enhanced financial services for key industries and technological innovation [1][2][3]. Group 1: Financial Support for Key Technologies - The document highlights the importance of optimizing the funding supply structure to provide loans, bonds, and equity financing for new industrialization [1]. - It emphasizes the need for a comprehensive financial service system to support core technology breakthroughs, the development of emerging industries, and the transformation of traditional industries [1][2]. - Specific measures include the introduction of long-term capital and patient capital to accelerate the transformation of technological achievements [2]. Group 2: Strengthening Financial Services for Key Enterprises - Financial institutions are encouraged to use diverse tools such as loans, bonds, equity, and insurance to provide comprehensive financial services to key enterprises in the industrial chain [2][3]. - The document calls for the development of a financial service model based on "data credit" and "material credit" to enhance the flexibility of financial services for industrial transfers [3]. - It also stresses the importance of supporting listed companies in industry consolidation through various financial mechanisms [3]. Group 3: Coordination of Financial and Industrial Policies - The document emphasizes the need for a coordinated approach between financial policies and industrial policies to enhance support for new industrialization [4][5]. - It calls for the establishment of internal mechanisms within financial institutions to better serve the manufacturing sector and to adjust operational directions based on national development needs [4]. - The document advocates for the cultivation of a talent pool skilled in technology and industrial finance to improve service capabilities [5].

Core Viewpoint - The People's Bank of China and six other departments issued guidelines to enhance financial support for new industrialization, aiming to accelerate the development of high-quality financial services and prevent excessive competition in industries [1][3]. Group 1: Financial Support Measures - The guidelines propose 18 financial support measures across five key areas to enhance technological innovation and supply chain resilience in industries [1][3]. - By 2027, the financial system supporting the high-end, intelligent, and green development of manufacturing is expected to be well-established, with a focus on diverse financial products and effective risk prevention [3][4]. Group 2: Integration of Technology and Finance - The initiative emphasizes "integrated technology and industry finance," promoting long-term capital investment and the transformation of technological achievements [4][5]. - The guidelines include plans for monthly investment roadshows and nurturing small and medium-sized enterprises (SMEs) with specialized technologies to facilitate their listing [4][5]. Group 3: Cross-Border Financial Services - The guidelines aim to enhance cross-border financial services, including expanding the use of RMB for international trade and supporting pilot projects for cross-border cash pooling [4][5]. - The focus is on improving the convenience of cross-border settlements and upgrading foreign exchange hedging services to strengthen the competitiveness of "Made in China" in global supply chains [5]. Group 4: Implementation and Future Steps - The People's Bank of China and the Ministry of Industry and Information Technology will work with relevant departments to ensure the implementation of these guidelines, enhancing the financial support system for new industrialization [5][6].

Core Viewpoint - The People's Bank of China and seven other departments have jointly issued guidelines to enhance financial support for new industrialization, aiming to provide high-quality financial services to accelerate the development of new productive forces while preventing excessive competition [1][2]. Financial Support Structure - The guidelines emphasize optimizing the funding supply structure at the macro level, providing loans, bonds, and equity financing to support new industrialization [1][2]. - By 2027, the financial system supporting the high-end, intelligent, and green development of the manufacturing industry is expected to be fundamentally mature, with a richer array of products and improved service adaptability [2][3]. Technology and Innovation Financing - The guidelines advocate for the introduction of long-term funds and patient capital to accelerate the transformation of technological achievements, encouraging collaboration between financial institutions and technology intermediaries [3][4]. - A "technology-industry finance integration" initiative is proposed to enhance investment in hard technology and support small and medium-sized enterprises in going public [3][4]. Supply Chain and Regional Financial Services - The guidelines call for improved financial services for supply chains, encouraging financial institutions to provide financing services based on "data credit" and "physical credit" for small and medium-sized enterprises [3][4]. - Financial institutions are urged to optimize resource allocation to support the transfer of industries to central and western regions, enhancing information sharing and service coordination [4][5]. Cross-Border Financial Services - The guidelines aim to enhance the convenience of cross-border financial services and expand the scope of high-level bilateral open development [5][6]. - Support for small and medium-sized enterprises in overseas operations is emphasized, along with the facilitation of cross-border fund pooling and trade settlement [5][6]. Long-term Mechanism for Financial Support - The guidelines propose strengthening the capacity and long-term mechanisms for financial services, ensuring a reasonable investment ratio in the manufacturing sector [6][7]. - Financial institutions are encouraged to develop differentiated credit policies tailored to specific industries and stages of enterprise growth [6][7].

21世纪经济报道记者唐婧 北京报道 金融支持新型工业化路线图出炉。 近日，中国人民银行等七部门联合印发《关于金融支持新型工业化的指导意见》（以下简称《意 见》）。《意见》对照新型工业化重点任务，坚持以产业需求牵引深化金融供给侧结构性改革，构建全 覆盖、差异化、专业性金融服务体系，形成金融支持新型工业化的清晰路径。 一是在宏观层面要优化资金供给结构，为新型工业化提供贷款、债券、股权等融资支持。二是完善科技 金融服务体系，支持核心技术攻关、新兴产业培育发展和传统产业改造升级。三是优化供应链金融和区 域、外贸金融服务，支持重点产业链和先进制造业集群发展。四是推进绿色金融和转型金融，支持新能 源产业和传统工业绿色低碳改造。五是积极有序发展数字金融，支持工业数字化智能化改造和数字基础 设施建设。 《意见》提出，强化产业政策和金融政策协同，提升金融支持强度精度效度，为建设以科技创新为引 领、先进制造业为骨干的现代化产业体系，扎实推进新型工业化，加快发展新质生产力提供高质量金融 服务。坚持分类施策、有扶有控，推动产业加快迈向中高端，防止"内卷式"竞争。 《意见》还明确了总体目标，即到2027年，支持制造业高端化智能化绿色化 ...

Core Viewpoint - The People's Bank of China and several government departments have jointly issued guidelines to enhance financial support for new industrialization, focusing on improving technological innovation and supply chain resilience in the manufacturing sector [1][4]. Financial Support Measures - The guidelines propose 18 financial support measures across five key areas, aiming to establish a mature financial system for high-end, intelligent, and green manufacturing by 2027 [4]. - Emphasis is placed on the integration of various financial tools, including structural monetary policy and macro credit policy, to provide long-term stable funding for advanced manufacturing [4][5]. Technology-Industry Financial Integration - The initiative includes the "Technology-Industry Financial Integration" project, which aims to attract long-term capital and facilitate the transformation of technological achievements [5]. - The project will implement monthly investment roadshows and cultivate small and medium-sized enterprises for listing, enhancing the evaluation system for hard technology attributes [5]. Cross-Border Financial Services - The guidelines aim to enhance the convenience of cross-border financial services, including facilitating cross-border settlements and upgrading foreign exchange hedging services [6]. - Support for enterprises in conducting cross-border fund pool pilot projects is also included, which will facilitate the management of domestic and foreign fund transfers [5][6]. Systematic Development of Financial and Industrial Collaboration - The issuance of these guidelines marks a significant step in the systematic deepening of financial and industrial collaboration in China, focusing on addressing the challenges faced by the real economy [6]. - The framework aims to direct financial resources precisely to areas where they are most needed in the industrial upgrade process, enhancing the ability of financial services to support high-quality development of the real economy [6].

Core Viewpoint - The People's Bank of China and six other departments have jointly issued the "Guiding Opinions on Financial Support for New-Type Industrialization," which aims to enhance financial support for key industries and promote technological innovation and industrial upgrading [1][12]. Group 1: Financial Support for Key Industries - Financial institutions are encouraged to provide medium- and long-term financing for key manufacturing sectors such as integrated circuits, industrial mother machines, medical equipment, servers, and advanced materials [5][14]. - The policy aims to enhance the financing accessibility for small and micro enterprises in the manufacturing sector [6][20]. Group 2: Support for Emerging Industries - The guidance supports financing for emerging industries like new-generation information technology, smart vehicles, renewable energy, and biomedicine in multi-tiered capital markets [7][18]. - It emphasizes the importance of long-term capital and patient investment to accelerate the transformation of technological achievements into commercial applications [15][18]. Group 3: Enhancing Financial Services for Traditional Manufacturing - Financial institutions are directed to optimize credit policies to support the high-end, intelligent, and green development of traditional manufacturing [17][24]. - The guidance encourages the use of diverse financial tools, including loans, bonds, and insurance, to support the digital transformation of manufacturing enterprises [17][24]. Group 4: Green Finance and Sustainable Development - The policy promotes the establishment of a financial standard system to support the green and low-carbon transformation of high-carbon industries [19][26]. - It encourages the development of green financial products and the application of green credit and bonds in manufacturing [19][26]. Group 5: Strengthening Digital Financial Services - Financial institutions are urged to leverage technologies like big data and blockchain to enhance service efficiency for manufacturing, especially for small and medium-sized enterprises [20][21]. - The guidance supports the construction of digital financial service platforms to facilitate financing and cash management for the manufacturing sector [20][21]. Group 6: Policy Coordination and Risk Management - The document emphasizes the need for coordination between financial and industrial policies to create a supportive environment for new-type industrialization [26][27]. - It calls for the establishment of a joint risk assessment mechanism to monitor and manage financial risks associated with industrial projects [27][28].

Core Viewpoint - The article discusses the joint issuance of the "Guiding Opinions on Financial Support for New-Type Industrialization" by seven departments, including the People's Bank of China, aimed at accelerating the construction of a financial system that supports new-type industrialization and enhances the resilience of industrial chains [3][12]. Group 1: Financial Support for Key Industries - Financial institutions are encouraged to provide medium- and long-term financing for key manufacturing industries such as integrated circuits, industrial mother machines, medical equipment, servers, and advanced materials [4][14]. - The policy aims to enhance the financing accessibility for small and micro enterprises in the manufacturing sector [5][20]. Group 2: Support for Emerging Industries - The article highlights support for emerging industries like new-generation information technology, smart (connected) vehicles, and biomedicine to access multi-tiered capital markets for financing [6][18]. - It emphasizes the need for long-term capital and patient investment to accelerate the transformation of technological achievements into practical applications [15][18]. Group 3: Enhancing Financial Services for Traditional Manufacturing - Financial institutions are urged to optimize credit policies to support the high-end, intelligent, and green development of traditional manufacturing [17][19]. - The article suggests that banks should enhance their support for digital transformation in manufacturing, particularly for small and medium-sized enterprises [17][20]. Group 4: Promoting Green and Digital Finance - The article discusses the importance of green finance in supporting the low-carbon transformation of high-carbon industries, advocating for the development of green financial products [19][28]. - It also emphasizes the role of digital finance in improving the efficiency of financial services for the manufacturing sector, particularly through the use of big data and AI [20][28]. Group 5: Strengthening Policy Coordination - The article calls for enhanced coordination between financial policies and industrial policies to ensure effective implementation of the financial support measures [27][28]. - It highlights the need for a collaborative approach among various government departments to create a conducive environment for financing new-type industrialization [27][28].

Core Viewpoint - The article discusses the "Guiding Opinions on Financial Support for New-Type Industrialization" issued by multiple Chinese financial and regulatory authorities, emphasizing the importance of financial services in supporting the real economy and preventing financial risks, with a focus on advancing new industrialization and enhancing the financial system by 2027 [1][5]. Summary by Sections Overall Requirements - The guiding opinions are based on Xi Jinping's thoughts and aim to implement the spirit of the 20th National Congress, focusing on financial services for the real economy and risk prevention [5]. - By 2027, a mature financial system supporting high-end, intelligent, and green development in manufacturing is expected, with enhanced service adaptability [5]. Supporting Technological Innovation and Supply Chain Resilience - Financial policies will be optimized to support key technologies and products, encouraging banks to provide long-term financing for critical manufacturing sectors [6]. - Long-term capital and patient capital will be introduced to accelerate the transformation of technological achievements [7]. - Comprehensive financial services will be provided to key enterprises in the supply chain, supporting private enterprises in building a self-controlled industrial chain [8]. Modern Industrial System Construction - Traditional manufacturing financial services will be optimized to promote transformation and upgrading, with a focus on digitalization and green development [10]. - Financial institutions will be encouraged to develop diverse financial products to support emerging industries and future-oriented sectors [11]. Green Finance and Digital Economy - Green finance will play a crucial role in supporting low-carbon development, with a focus on creating a financial standard system for high-carbon industries transitioning to green [12]. - Digital finance will enhance the integration of the digital economy with the real economy, utilizing technologies like big data and AI to improve service efficiency [13]. Financial Policy and Industry Policy Coordination - A collaborative mechanism will be established among various regulatory bodies to ensure consistent macro policy orientation and optimize the environment for policy implementation [21]. - Local governments will be encouraged to create supportive financing environments for small and medium-sized enterprises [22]. Risk Prevention and Management - A joint risk assessment and early warning mechanism will be established to monitor financial and industrial risks, ensuring compliance with national industrial policies [23].

Core Viewpoint - The People's Bank of China and seven other departments have jointly issued guidelines to support new industrialization through targeted financial measures aimed at enhancing technological innovation and supply chain resilience [2][4]. Financial Support for New Industrialization - The guidelines emphasize the importance of financial services for the real economy, aiming to deepen financial supply-side structural reforms and enhance the synergy between industrial and financial policies [2][6]. - By 2027, the financial system supporting the high-end, intelligent, and green development of the manufacturing industry is expected to be fundamentally mature [7]. Targeted Support Measures - Financial policy tools will be optimized to support key technological products and breakthroughs, with a focus on enhancing the innovation capabilities of industries and the resilience of supply chains [3][8]. - The guidelines propose the development of technology finance, green finance, and digital finance, among other initiatives, to support the transformation of traditional industries and the growth of emerging industries [3][12]. Enhancing Financial Services - Financial institutions are encouraged to create differentiated credit policies based on the characteristics of specific industries and the growth stages of enterprises [10][20]. - The guidelines call for the establishment of a long-term mechanism to improve financial service capabilities, ensuring that the manufacturing sector receives adequate investment [3][20]. Promoting Cross-Border Financial Services - The guidelines aim to facilitate cross-border financial services, enhancing the efficiency of trade settlements and capital management for enterprises engaged in international trade [16][18]. - Measures will be taken to expand the scale of cross-border trade settled in RMB, improving the financial environment for foreign trade [18][19]. Strengthening Policy Coordination - The guidelines highlight the need for enhanced coordination between financial and industrial policies, ensuring that financial institutions align their strategies with national development goals [22][24]. - A collaborative mechanism will be established to share information and coordinate efforts among various departments to support the implementation of the guidelines [22][24].

Core Viewpoint - The People's Bank of China and six other departments have jointly issued guidelines to support the new industrialization process, focusing on enhancing technological innovation, supply chain resilience, and building a modern industrial system by 2027 [1][2]. Group 1: Financial Support for Manufacturing - The guidelines propose 18 measures to create a mature financial system that supports high-end, intelligent, and green development in manufacturing by 2027, ensuring that credit demand from manufacturing enterprises is fully met [1][2]. - Financial tools such as loans, bonds, equity, and insurance will be better integrated to enhance service adaptability while effectively preventing cross-financial risks [1][2]. Group 2: Technological Innovation and Supply Chain Resilience - The guidelines emphasize optimizing financial policy tools to support key technology and product breakthroughs in critical manufacturing sectors, including integrated circuits and advanced materials [1][2]. - Long-term funding and patient capital will be introduced to accelerate the transformation of technological achievements, with financial institutions encouraged to collaborate with technology intermediaries [1][2]. Group 3: Modern Industrial System Construction - The guidelines call for banks to optimize credit policies to support the high-end, intelligent, and green development of traditional manufacturing, particularly focusing on small and medium-sized enterprises [2]. - There is a specific emphasis on providing long-term loan support for digital infrastructure projects, including 5G and industrial internet [2]. Group 4: Financial Policy and Industry Policy Coordination - The guidelines highlight the need for coordinated implementation of monetary policies, such as re-loans and interest subsidies, to support key areas of new industrialization and the development of small and medium enterprises [3]. Group 5: Current Financial Support Status - As of July 18, over 3,100 financial and investment institutions have launched more than 800 financial products, with a cumulative financing scale exceeding 1.2 trillion yuan, benefiting enterprises with an average financing support of nearly 34 million yuan each [4]. - In the first half of the year, the A-share market raised 148.8 billion yuan for industrial enterprises, marking a year-on-year increase of 51.6% [4].