Core Viewpoint - The document outlines the "Guiding Opinions on Promoting High-Quality Development of Technology Insurance in Shanghai," which aims to enhance the role of technology insurance as a stabilizer and shock absorber for innovation [1][2]. Group 1: Framework and Key Tasks - The guiding opinions propose a comprehensive development framework for technology insurance that covers the entire chain of technological innovation and the full lifecycle of technology enterprises, focusing on major research projects, cutting-edge technology breakthroughs, innovation in small and medium-sized enterprises (SMEs), and enterprises' overseas strategies [1]. - Five key tasks and 16 specific measures are identified to systematically promote the development of technology insurance [1]. Group 2: Mechanism Innovation - The opinions emphasize professional operation and digital empowerment as primary strategies to enhance the quality and efficiency of technology insurance, proposing principles such as "special assessment, exclusive products, professional talent, specialized institutions, dedicated technology, dedicated systems, and dedicated supervision" [1]. - Shanghai will explore quantifying enterprise innovation capabilities into the insurance pricing system and pilot a "Shanghai Science Credit" precise pricing mechanism [1]. Group 3: Policy Coordination - A notable highlight of the opinions is the establishment of a coordinated promotion mechanism among regulatory departments, which will explore a tiered premium subsidy policy to achieve precise financial support [2]. - Technology insurance services will be included in the Shanghai municipal technology innovation voucher policy to directly reduce the insurance costs for SMEs [2]. - The document also mentions the integration of resources to build a cross-departmental expert database and data-sharing mechanism [2]. Group 4: Market-Driven Mechanism - The opinions stress the decisive role of the market in resource allocation, encouraging insurance institutions to engage deeply with technology parks and incubators to match enterprise needs accurately [2]. - Support for intermediary institutions to play a professional role is also highlighted, along with the establishment of a risk diversification mechanism [2]. - The document introduces a pilot for special risk transfer tools to attract social capital for risk diversification [2]. Group 5: Regulatory Enhancements - The Shanghai regulatory authority plans to increase the scope and intensity of subsidies for technology insurance policies this year, focusing on key industries [2]. - Collaboration with key industry technology parks will be strengthened to expand the insurable risk scope of technology insurance and explore risk reduction management in the technology sector [2]. - The regulatory foundation will be solidified by improving the monitoring index system and closely monitoring emerging risks [2].

Core Insights - The State Council's Financial Regulatory Administration emphasizes the role of technology insurance as a "shock absorber" and "stabilizer" for key core technology breakthroughs and future industry development [1] Group 1: Current Policies - The Financial Regulatory Administration has implemented three main policy measures to support technology insurance [1] - Improvement of the first set and first batch insurance compensation mechanism, expanding the coverage and optimizing terms, with over 1 trillion yuan in risk protection provided since the pilot began [1] - Optimization of insurance companies' solvency regulatory standards, adjusting risk factors for investments in strategic emerging industries and technology board companies, aiming to release more insurance funds to support capital markets [1] - Pilot program for major technology breakthrough insurance mechanisms in key sectors like integrated circuits and commercial aviation, providing risk-sharing solutions for national technology tasks, with approximately 9 trillion yuan in technology insurance protection provided last year [1] Group 2: Future Plans - The Financial Regulatory Administration is set to implement additional policies [2] - Recently introduced policies allowing insurance funds to invest in unlisted major equity related to insurance business, broadening support for technological innovation [2] - Adjusted regulatory ratios for insurance funds' equity investments, increasing the limit for single venture capital fund investments from 20% to 30% of the fund's paid-in capital [2] - Collaboration with the Ministry of Science and Technology to develop policies for high-quality development of technology insurance, focusing on optimizing the service system and enhancing the role of the insurance industry in risk compensation and funding leverage [2]

Core Viewpoint - The Financial Regulatory Administration is collaborating with the Ministry of Science and Technology to develop policy documents aimed at promoting high-quality development in technology insurance, which serves as a "shock absorber" and "stabilizer" for key core technology breakthroughs and future industry cultivation [1] Group 1: Policy Measures - The first policy measure involves improving the compensation mechanism for the first set and first batch of insurance, with a cumulative risk guarantee exceeding 1 trillion yuan since the pilot launch [1] - The second measure optimizes the solvency regulatory standards for insurance companies, adjusting the risk factor for investments in unlisted equity of strategic emerging industries to 0.4, and lowering the risk factor for investments in stocks of technology board companies from 0.45 to 0.4 [1] - The third measure introduces a pilot program for a major technology breakthrough insurance guarantee mechanism [1]

Group 1 - The head of the Financial Regulatory Administration, Li Yunzhe, announced on May 7 that guidelines for the high-quality development of technology insurance will be formulated [1] - The aim is to better play the role of risk sharing and compensation, effectively providing strong support for technological innovation [1]

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