"十五五"时期是基本实现社会主义现代化的关键时期。随着党的二十届四中全会审议通过"十五 五"规划建议，清晰的战略路径已然铺就。在这一历史进程中，金融血脉如何更精准地服务实体经济， 资本市场如何更高效地赋能新质生产力，成为关系全局的重要议题。 "截至2025年10月末，中信建投证券累计服务国家级专精特新及制造业单项冠军企业超2100家，'小 巨人'IPO保荐数量稳居市场前列，北交所IPO保荐数量及承销金额持续领先。未来，我们还将继续加大 投入，为新质生产力发展贡献更大力量。"正值中信建投证券股份有限公司（以下简称"中信建投证 券"）成立20周年之际，《金融时报》独家专访了中信建投证券股份有限公司党委副书记、总经理金剑 华。这份服务科技创新的高质量"成绩单"，是中信建投证券过往成果的总概括，也是未来继续深耕科创 金融、服务国家战略决心的体现。 围绕证券行业如何理解并践行"十五五"规划建议的战略指引，在加快建设金融强国的目标下证券公 司如何找准定位并系统发力，以及服务新质生产力将如何重塑行业发展模式、核心能力与价值创造方式 等关键问题，金剑华对记者系统阐述了他的思考。 《金融时报》记者：结合当前国内外发展环境，您认 ...

◎记者 韩宋辉 创新信贷"多点开花" 当高风险、长周期的科技创新，遇到追求安全与盈利的传统银行信贷，会碰撞出怎样的火花？ 上海证券报记者近期调研发现，华夏银行正开展一场专项行动，通过研发贷、并购贷、科创债等创新工具组合出击，并在 内部掀起一场从组织架构、风控模型到激励机制的深刻变革，试图在科技金融领域走出一条兼顾政策使命与商业可持续的 路径。 华夏银行出手解决了这家企业面临的困境。华夏银行南京分行科技金融中心张经理说，这是华夏银行南京分行落地的首 笔"研发贷"，投放1300万元，能匹配企业高投入的临床试验资金需求，期限为3年。 在北京，某智能科技有限公司专注于高性能GPU芯片设计。随着新兴技术爆发，GPU芯片市场需求呈井喷式增长。该企业 为突破技术壁垒、扩大生产规模，急需3亿元流动资金。华夏银行北京分行快速响应，深入调研企业技术实力与市场前 景，为企业量身定制3亿元信用贷款授信方案。在这笔资金助力下，该企业成功与浙江省某实验室签订大额订单，推动国 产GPU在超算中心的应用，并实现新一代AI芯片研发提速。 在南京某头部上市国有药企收购医院股权时，华夏银行用11天完成了从中标到放款的全流程，为该公司发放1.5亿元 ...

Core Viewpoint - The article emphasizes the role of招商银行东莞分行 in supporting the high-quality development of enterprises in Dongguan through financial services, particularly focusing on technology and innovation-driven companies. Group 1: Financial Support for High-Tech Enterprises - 招商银行东莞分行 provides precise financing support for specialized and innovative high-tech enterprises, with a manufacturing loan balance of 23.665 billion and a technology loan balance of 14.669 billion as of October 2025, serving 3,970 technology enterprises [5][6]. - 广东鼎泰高科技术股份有限公司 has leveraged the bank's financial support to expand production capacity and enhance business development [6]. Group 2: Inclusive Finance and Customized Products - 招商银行东莞分行 has developed customized financing products for innovative small and medium-sized enterprises, including "Innovation Points Loan" and "Industry Points Loan," which have reached 725 enterprises and disbursed over 600 million since May 2024 [6][8]. - The "莞招码上测" product system allows enterprises to easily access financing options through a simple scan, reducing barriers for inclusive finance [8]. Group 3: Digital Financial Services - The bank has facilitated digital transformation for enterprises like 东莞徐福记食品有限公司 by integrating financial management systems, enhancing efficiency in payroll and expense management [8][9]. - The CBS system launched in August 2021 has enabled 6,353 enterprises to manage their financial operations more effectively, contributing to cost reduction and efficiency [8]. Group 4: Cross-Border Financial Services - 招商银行东莞分行 has established a comprehensive cross-border financial service model, supporting enterprises in managing cross-border funds, global accounts, and currency risk [10]. - 佳禾智能科技股份有限公司 has benefited from the bank's international business expertise and flexible financial solutions, facilitating its international expansion [10][11].

会议提出，党的二十届四中全会对未来五年的发展作出顶层设计和战略擘画，要求加快高水平科技自立 自强，引领发展新质生产力，大力发展金融"五篇大文章"，为"十五五"科技金融工作指明了方向。各有 关部门要深入学习贯彻全会精神，突出科技创新的引领作用，加快构建与科技创新相适应的科技金融体 制，持续深化金融供给侧结构性改革，推动科技、产业、金融良性循环，为建设科技强国提供坚实支 撑。 会议强调，明年是"十五五"开局之年，各有关部门要扎实推进各项工作任务落实，常态化运行科技金融 统筹推进机制，强化科金协同、央地联动，进一步优化政策措施。发挥好科技创新和技术改造再贷款政 策作用，高质量建设债券市场"科技板"，促进私募股权投资和创业投资"募投管退"循环，强化科技保险 高质量发展，引导和推动金融资源科学高效配置，加强对金融机构"五篇大文章"工作成效评估，完善融 资对接、信息共享、知识产权转化运用等配套机制，助力高水平科技自立自强。 本报北京12月2日电(记者徐佩玉)中国人民银行、科技部等部门近日联合召开科技金融统筹推进机制第 一次会议。 会议认为，"十四五"时期各有关部门紧密协作，央地协同发力，金融支持科技创新取得明显成效，探索 ...

Core Insights - The financial industry is facing a transformative opportunity to support technological innovation and local economic development, moving beyond traditional credit models to embrace a more integrated approach to financing [1][2][3] Group 1: 华夏银行 (Huaxia Bank) - Huaxia Bank is implementing a comprehensive initiative to address the inherent conflict between high-risk, long-cycle technology innovation and traditional banking's focus on safety and profitability, utilizing innovative financial tools and internal reforms [3][4] - The bank has successfully launched various financial products, such as "研发贷" (R&D loans) and "并购贷" (merger loans), to meet the specific needs of technology companies, including a notable 13 million yuan R&D loan for a biotechnology firm [4][6] - As of October, Huaxia Bank's loans to technology enterprises reached nearly 240 billion yuan, with a growth rate of approximately 50%, indicating a strong commitment to supporting the tech sector [9] Group 2: 北京农商银行 (Beijing Rural Commercial Bank) - Beijing Rural Commercial Bank has evolved from a local credit cooperative to a major financial institution, with assets growing to 1.3 trillion yuan and maintaining a non-performing loan rate of around 1% [11][12] - The bank focuses on rural revitalization and small and micro enterprises, offering tailored financial products like "优农快贷" (Fast Agricultural Loans) to support local agricultural initiatives [12][14] - As of October, the bank's inclusive small and micro loans reached 20.048 billion yuan, reflecting its commitment to serving diverse customer needs [14] Group 3: 郑州银行 (Zhengzhou Bank) - Zhengzhou Bank is strategically aligned with the national goals of high-quality development and efficient governance, focusing on providing financial support to key industries and local economies [21][23] - The bank has established a "产业链金融" (industry chain finance) model to support local industries, particularly in manufacturing and agriculture, and has signed strategic agreements to provide targeted credit support [24][25] - As of June, the bank's agricultural loan balance was 48.094 billion yuan, demonstrating its commitment to rural financial services [25] Group 4: 中关村银行 (Zhongguancun Bank) - Zhongguancun Bank, as the first private bank focused on technology innovation, aims to build a comprehensive ecosystem for tech enterprises, shifting from merely providing financial services to becoming a key player in the tech finance ecosystem [32][33] - The bank emphasizes early-stage support for startups, particularly in hard technology sectors, and has developed customized financial solutions to meet the unique needs of these companies [34][35] - By collaborating with over 400 venture capital and industry partners, Zhongguancun Bank is creating a robust network to support tech companies throughout their lifecycle [36][37]

Core Insights - The core discussion at the "19th Shenzhen International Financial Expo" focused on how investment banks can embrace new productive forces through technology finance, emphasizing the need for specialized service structures to support tech enterprises [1] Group 1: Specialized Service Structures - Major securities firms are establishing dedicated teams and optimizing assessment mechanisms to systematically transform their service models [2] - Companies are forming specialized service centers for small and medium-sized enterprises (SMEs), focusing on financing, intelligence, and customer acquisition [2] - Firms are creating industry groups around strategic sectors such as high-end equipment and new energy, integrating investment, banking, and research resources [2][3] Group 2: Value Identification Systems - Investment banks are enhancing their professional judgment capabilities by developing systematic identification frameworks for hard technology enterprises [2][3] - Companies are establishing industry research institutes to provide in-depth industry insights, which are crucial for project selection [3] Group 3: Comprehensive Financial Service Ecosystem - Investment banks are transitioning from single financing to full-cycle support, aiming for long-term partnerships with enterprises [5] - A three-stage service model is proposed, focusing on initial financing, IPO facilitation, and post-listing mergers and acquisitions [5][6] - The importance of long-term support is emphasized, as many projects grow from small to large scales, requiring comprehensive service capabilities [5] Group 4: Policy Recommendations - Experts call for increased inclusivity and stability in policies to better support technological innovation, suggesting the expansion of "patient capital" and more flexible regulatory environments [6][7] - There is a need for improved certainty in capital operations, particularly in the merger and acquisition processes, to foster a dual-driven development model of IPOs and mergers [7]

锚定产业痛点，定制方案纾困解难 在科技强国战略深入推进、实体经济加速转型升级的背景下，科技型企业正成为驱动高质量发展的核心 力量。党的二十届四中全会将"推动科技创新与产业创新深度融合"作为加快高水平科技自立自强与引领 发展新质生产力的重要内容进行部署，交通银行立足大行担当，以产业链金融为重要抓手，通过数字 化、场景化、生态化的创新服务，精准破解科技企业融资痛点，为科技创新与产业升级注入强劲金融动 能，奋力书写"科技金融"大文章。 以汽车行业为例，交通银行运用金融科技迭代升级智慧汽车金融系统，通过订单流、资金流、货物流的 闭环，实现了以全线上、自动化的方式为经销商办理"秒级"提款业务，大幅提升下游分销渠道的融资效 率。同时，通过物联网、大数据的有效结合，实现全线上"车联网管理"，提升风控能力、降低作业成 本，护航新能源汽车产业链驶入发展快车道。 此外，交通银行还联合市场上主流的供应链金融公司，发挥彼此在金融要素、运营能力、信息科技之间 的优势，为科技型企业提供综合化服务方案，高效打通资金端与资产端的对接渠道，从而提升服务核心 企业和链属企业能力。截至2025年10月，交通银行已对接合作约15家头部三方信息服务商 ...

Core Insights - The 20th Central Committee's Fourth Plenary Session emphasizes the importance of strengthening the financial sector as part of China's modernization and national rejuvenation efforts, providing a strategic blueprint for the 14th Five-Year Plan [1][3] - The State Council's recent guidelines aim to enhance regulation and promote high-quality development in the futures market, aligning with the directives from the Fourth Plenary Session [2][3] Group 1: Strategic Development - The "14th Five-Year Plan" outlines key goals and tasks for China's development, aiming for significant progress towards becoming a moderately developed country by 2035, with a focus on building a modern industrial system and promoting high-level technological self-reliance [3][4] - The plan highlights the need for steady development of futures, derivatives, and asset securitization, positioning the futures market as a critical component of national strategy [3][7] Group 2: Service to the Real Economy - The futures market is recognized for its role in risk management and resource allocation, essential for stabilizing and developing the real economy amid complex external and domestic challenges [4][5] - Companies like Hongyuan Futures are integrating deeply into the industrial chain, enhancing supply chain resilience, and providing tailored risk management services to over a thousand industrial clients [5][6] Group 3: Financial Innovation and Inclusivity - Hongyuan Futures is actively promoting green finance and inclusive finance, offering risk management services to over 300 small and micro enterprises and exploring innovative products like "insurance + futures" to support farmers [5][6] - The company is also focusing on pension finance, enhancing investor education, and applying risk management tools to long-term funds [5][6] Group 4: Compliance and Risk Management - The "14th Five-Year Plan" calls for comprehensive financial regulation and risk management, emphasizing the need for futures companies to strengthen compliance and risk management frameworks [9] - Companies are encouraged to embed futures tools into key operational processes to help enterprises effectively manage market price fluctuations and enhance their risk management capabilities [9]

兴银理财党委委员、总裁 汪圣明 党的二十届四中全会再次强调大力发展科技金融、绿色金融、普惠金融、养老金融、数字金融"五篇大 文章"，为金融业的高质量发展指明航向。其中，科技金融居于首位，不仅凸显了其战略重要性，更意 味着它将成为贯通其他"文章"的核心脉络与强大引擎。作为连接资金与产业的桥梁，理财公司深刻认识 到，以科技金融之力，赋能"五篇大文章"的协同书写，是我们肩负的时代使命与发展的历史机遇。 建立健全组织架构，确保战略有效落地。兴银理财成立"五篇大文章"工作领导小组及科技金融工作专 班，建立多部门协同联动的高效运作机制。领导小组由公司主要负责人牵头，各业务部门负责人共同参 与，定期研究部署科技金融工作的重大事项。工作专班则负责具体执行，由投资、研究、风控等部门的 业务骨干组成，确保各项措施落到实处。通过制定详细的科技金融工作计划、绘制清晰的"施工 图"与"时间表"，公司将顶层设计转化为具体行动，建立起从目标设定、过程管理到结果评估的完整闭 环。 强化政策学习和行业研究，保持战略前瞻性。工作专班定期组织专题会议学习最新政策精神，深入研讨 科技金融发展趋势。兴银理财建立了政策解读和研究机制，及时把握国家在科技 ...

Core Viewpoint - China Pacific Property Insurance Co., Ltd. Shenzhen Branch has been closely aligned with the development of the Shenzhen Special Economic Zone since its establishment in 1992, aiming to be a leader in the industry with a focus on customer experience, business quality, and risk control [1][6] Group 1: Cross-Border Trade Support - The company is enhancing high-level openness and supporting the high-quality development of Shenzhen's import and export trade by leading the construction of a cross-border trade ecosystem and creating the industry's first cross-border trade support platform [3][8] - This platform integrates insurance services with logistics, warehousing, quality inspection, residual value, and maintenance, establishing standardized service processes and risk management systems [3][8] - The first overseas cooperation forum hosted by the company in February 2025 in Shenzhen set a benchmark model for Chinese enterprises going global [3][8] Group 2: Technology Finance Empowerment - The company focuses on the needs of technology enterprises by forming specialized service teams that provide around-the-clock insurance services, addressing insurance support challenges across different legal environments globally [4][9] - In 2025, the service model was upgraded to create a new "health management + insurance service" model, linking technology companies with insurance providers [4][9] - The company has provided health protection for hundreds of thousands of employees in leading technology firms globally, including a specific insurance policy worth 10 million yuan for a drone company [4][9] Group 3: Low Altitude Economy Development - As a pioneer in the low-altitude economy, the company has been at the forefront of industry development, assisting in drafting regulations for unmanned aerial vehicles and developing the first national model clauses for third-party liability insurance for these vehicles [5][10] - The company has created an innovative "insurance + after-sales" service system in collaboration with private drone manufacturers, providing risk coverage for nearly 5,000 operators and over 100 billion yuan in total risk coverage [5][10] - In 2025, the company established a dedicated low-altitude economy business department to continue empowering the insurance ecosystem for the industry [5][10]