（摄影/宋春雨） 从"体系优先"到"创新资本化"：规模化发展的核心 沈明高开宗明义，强调科技金融创新需更加重视从"1到N"的规模化扩张。"'十四五'科技金融有很多创新点，但还没有形成可复制的模式，科技金融创新何时能成规 模支持新质生产力发展，是未来五年的关键挑战。" 他认为，"十五五"规划建议首次明确构建了现代化产业体系框架，这与过往强调科技创新不同，这意味着，从科技创新与产业结合的角度看，科技金融需同时平衡 服务"科技产业化"与"产业科技化"。 近日，第二十届中国经济论坛平行论坛"2025大湾区科技与金融创新发展大会"在广州南沙举行，广发证券全球首席经济学家沈明高发表了题为《科技金融创新：从1 到N》的主题演讲。 沈明高表示，科技金融创新的核心挑战在于从单点突破走向规模化发展，唯有构建能规模化服务现代化产业体系的金融生态，才能孕育具有全球竞争力的科技企 业，为新质生产力注入强劲动能。在产业层面，沈明高提出"智能制造产业链"有望成为接替房地产的新支柱。 他引用美国历史数据称，电力和计算机从5%到50%的家庭渗透普及用了约20年，而AI推广很可能呈指数级增长，未来5—10年是普及推广的关键窗口期。"谁争得先 机 ...

近日，第二十届中国经济论坛平行论坛——2025大湾区科技与金融创新发展大会在广州南沙举行，广发证券全球首席经济学家沈明高发表了题为《科技金融创新： 从1到N》的主题演讲。 沈明高表示，科技金融创新的核心挑战在于从单点突破走向规模化发展，唯有构建能规模化服务现代化产业体系的金融生态，才能孕育具有全球竞争力的科技企 业，为新质生产力注入强劲动能。 沈明高强调，科技金融创新需更加重视从"1到N"的规模化扩张。"'十四五'时期科技金融有很多创新点，但还没有形成可复制的模式，科技金融创新何时能成规模支 持新质生产力的发展，是未来五年的关键挑战。" 他认为，"十五五"规划建议首次明确构建了现代化产业体系框架，这与过往强调科技创新不同，这意味着，从科技创新与产业结合的角度看，科技金融需同时平衡 服务"科技产业化"与"产业科技化"。 他深入阐释了科技金融的实质——"创新资本化"。"要将科技创新转化为资本回报。只有当创新能转化为回报，才能支撑下一轮可持续的创新与迭代，这是科技金融 的核心。" 然而，实现创新资本化目标面临五大挑战，即科技创新和科创企业往往具有非标准化、未盈利、轻资产、高不确定性和长周期的特征，传统金融服务往往难 ...

作为粤港澳大湾区的地理几何中心，南沙正处于多重国家战略叠加的关键机遇期。在"南沙金融30条"的牵引下，南沙在大湾区科技与金融创新中发挥怎样的作用？ 在第二十届中国经济论坛平行论坛——2025大湾区科技与金融创新发展大会上，广州市南沙区委常委、常务副区长孙勇表示，南沙将在深化大湾区科技金融创新中 争当排头兵，携手各界共绘科技创新与金融赋能的发展蓝图。 孙勇介绍，南沙作为承载国家级新区、自贸试验区等多重使命的重大平台，战略红利加速释放。随着"南沙金融30条""双15%税惠"等重磅政策落地见效，南沙高质 量发展跑出"加速度"：2025年前三季度GDP增速跃居全市第二，战略性新兴产业增加值占GDP比重达37.8%，研发投入强度提升至5.48%，高新技术企业总数突破 1300家，35家企业获评国家级专精特新"小巨人"，4家上榜2025全球独角兽榜单。 责编：李丹 校对：李凌锋 版权声明 在金融创新领域，南沙已形成支柱性产业优势。金融业增加值在全区GDP的占比超11%，税收常年位居行业前五，累计落地近百项金融创新成果，近40项入选国 家、省、市创新案例或试点。作为全国首批跨境贸易投资高水平开放试点和气候投融资试点地区，南 ...

作为粤港澳大湾区的地理几何中心，南沙正处于多重国家战略叠加的关键机遇期。在"南沙金融30条"的 牵引下，南沙在大湾区科技与金融创新中发挥怎样的作用？在第二十届中国经济论坛平行论坛——2025 大湾区科技与金融创新发展大会上，广州市南沙区委常委、常务副区长孙勇表示，南沙将在深化大湾区 科技金融创新中争当排头兵，携手各界共绘科技创新与金融赋能的发展蓝图。 创新载体方面，99平方公里南沙科学城加速建设，香港科技大学（广州）扎根发展，19个粤港澳联合科 技攻关项目立项；我国首艘大洋钻探船"梦想"号入列，冷泉生态系统研究装置启动建设，22家新型研发 机构集聚，全域创新活力持续迸发。 上市培育方面，南沙已培育17家上市企业，总市值超2100亿元，融资规模突破350亿元。今年5月推 出"鲲鹏计划"上市培育体系，专项开展北交所培育攻坚，助力科创企业登陆资本市场。 风投创投方面，南沙新区科创母基金入选全国区县级政府引导基金30强，撬动子基金规模超180亿元； 千亿级产业基金群加速成型，2000亿元广州产创投母基金落地运作，多只专项基金密集布局，坚定引导 社会资本"投早、投小、投科技、投南沙"。 综合服务方面，南沙推动金融机构创 ...

在金融创新领域，南沙已形成支柱性产业优势。金融业增加值在全区GDP的占比超11%，税收常年位居 行业前五，累计落地近百项金融创新成果，近40项入选国家、省、市创新案例或试点。作为全国首批跨 境贸易投资高水平开放试点和气候投融资试点地区，南沙也是华南地区最大的飞机船舶租赁集聚地，金 融开放创新能级持续提升。 孙勇重点阐述了南沙在金融赋能科技领域的五大核心举措。在融资服务方面，依托"益企共赢计划"和 100亿"粤科融"专项额度，推动21家合作银行向583家科技企业授信超68亿元，高新技术企业贷款占比超 60%；QFLP、QDLP试点企业达15家，获批额度超310亿元，实现跨境资本双向流动。 作为粤港澳大湾区的地理几何中心，南沙正处于多重国家战略叠加的关键机遇期。在"南沙金融30条"的 牵引下，南沙在大湾区科技与金融创新中发挥怎样的作用？在第二十届中国经济论坛平行论坛——2025 大湾区科技与金融创新发展大会上，广州市南沙区委常委、常务副区长孙勇表示，南沙将在深化大湾区 科技金融创新中争当排头兵，携手各界共绘科技创新与金融赋能的发展蓝图。 孙勇介绍，南沙作为承载国家级新区、自贸试验区等多重使命的重大平台，战略红利加 ...

详情如下 基本信息 主办单位：清华大学五道口金融学院 承办单位：《清华金融评论》编辑部、科学企业家® 活动时间：2025年12月7日上午 活动地点：云南·腾冲 活动主题：AI+金融·技术赋能与价值创造 党的二十届四中全会提出"加快高水平科技自立自强，引领发展新质生产力"，2025年《政府工作报告》也部署了深化大数据、人工智能等研 发应用，实施"人工智能+"行动。在此背景下，持续推动"科技-产业-金融"三者深度融合、递进形成、互促发展并互为支撑的良性循环，发挥 金融对科技创新和产业进步的支持作用，是我国经济高质量发展的必由之路，更是实现中国式现代化建设的必然选择。 在此背景下， 2025腾冲科学家论坛——"科技+金融"论坛将于2025年12月7日在云南举办，论坛以"AI+金融：技术赋能与价值创造"为主题， 由清华大学五道口金融学院主办，是2025腾冲科学家论坛分论坛之一。 结合全球金融科技趋势与国内实践，围绕产业发展、创新驱动、资金 融通等维度展开深度探讨，旨在为科技金融创新发展提供高端交流平台及智力支持，为地方科创成果提供展示窗口，为金融机构与科创企业 搭建经验交流与投融资合作对接渠道。 论坛亮点 1 智囊领 ...

为加大科技型中小企业培育力度，我省不断加强政策保障。发布《辽宁省推动经济稳中求进若干政 策举措》，明确提出强化企业科技创新主体地位等3条具体措施；出台《辽宁省强化企业科技创新主体 地位 培育壮大科技型企业群体的若干措施》，提出一体化推进科技型企业"提质扩面"；构建"科技型中 小企业—高新技术企业—雏鹰、瞪羚、独角兽企业"梯度培育体系，规范提升企业孵化器、大学科技园 等转化服务功能，在孵企业4000余家。 加强技术供给，推动资源共享，我省聚焦重点产业集群组建20个重点实验室群，促进高校院所、骨 干企业等优质资源向企业集聚。目前，20个重点实验室群集聚创新平台近千个，与973家重点企业开展 深入合作，联合实施科研项目299项，转化科技成果319项。同时，促进大型科研仪器设备共享，万余台 （套）通用性强、服务面广的仪器设备向社会开放共享，降低企业研发成本。 日前，我省发布2025年第二批辽宁省雏鹰瞪羚独角兽企业备案名单，沈阳朗云志雅科技有限公司等 307家企业成为"雏鹰"，沈阳汇晶纳米科技有限公司等102家企业成为"瞪羚"，沈阳航燃科技有限公司为 种子"独角兽"企业，中科芯微智能装备（沈阳）有限公司为潜在"独角兽" ...

Core Points - The strategic cooperation agreement between PICC Property and Casualty Nanjing Gaochun Branch and the Gaochun District Science and Technology Bureau aims to launch a customized insurance product called "Chun Ke Bao," which is the first in the city to adopt a "pay after use" model for technology achievements [1][2] - This initiative marks a significant step in technological financial innovation in Gaochun District and serves as a "Gaochun sample" for new models of technology insurance services in the city [1] - The product "Chun Ke Bao" focuses on various risk points in the technology achievement transformation process, providing comprehensive risk protection during the trial and transformation periods [1] Summary by Sections Strategic Cooperation - The cooperation is a response to the central financial work conference and aims to implement the "five major articles" of finance [1] - Both parties will conduct policy research, product development, risk management, and enterprise services to help small and micro enterprises reduce innovation risks and improve the efficiency of technology achievement transformation [1][2] Product Features - "Chun Ke Bao" covers multiple dimensions of risk, including research and development cost losses, patent enforcement, licensing credit, data intellectual property, and losses from commercial secret infringements [1] - The product aligns with the risk protection mechanism required by the "pay after use" policy and highlights the positive role of insurance in nurturing new productive forces [1] Future Plans - The Gaochun District Science and Technology Bureau and PICC Property and Casualty plan to deepen their cooperation and continuously optimize the technology insurance product system [2] - The company aims to ensure that the policy benefits more technology-based enterprises by accelerating the implementation of the "Chun Ke Bao" product and establishing a dedicated service team [2]

Core Viewpoint - The Liaoning Provincial Government, in collaboration with the People's Bank of China Liaoning Branch and 12 other departments, has introduced measures to accelerate technological financial innovation to support the construction of a strong technological province, outlining 20 specific initiatives across seven areas including monetary credit, capital markets, venture capital, technology insurance, and financing guarantees [1][3]. Group 1: Financial Support Measures - The measures aim to utilize monetary policy tools to provide precise services to technology enterprises, enhancing the guiding and supporting role of monetary credit [3]. - Initiatives include promoting intellectual property pledge loans, increasing the scale of "Sci-Tech Innovation Loans" for agriculture and small enterprises, and expanding the "Sci-Tech Bill" program to offer diversified financing services [3]. - Banks are encouraged to establish specialized departments for technology finance and develop a comprehensive service platform for innovative technology enterprises [3]. Group 2: Capital Market Development - The measures support technology enterprises in listing and financing, establishing a "reserve enterprise library" for tiered and categorized cultivation and guidance [3]. - Development of regional equity markets and the establishment of special boards for "gazelle" and "unicorn" companies are also included, along with enhanced promotion of technology innovation bonds [3]. Group 3: Venture Capital and Insurance - The measures guide venture capital to invest early, in small amounts, for the long term, and in hard technology, emphasizing its role in supporting technological innovation and industrial transformation [3]. - There is an exploration of joint guarantee models to strengthen insurance support, positioning technology insurance as a key stabilizer for technological innovation [3]. Group 4: Future Initiatives - A coordinated mechanism for technology finance will be established to accelerate the implementation of core platforms and mechanisms, along with policy interpretation and case promotion [4]. - High-profile technology finance summits and forums will be organized to invite renowned financial institutions, experts, and enterprises, creating a platform for exchange and cooperation [4]. - The goal is to establish a diversified, relay-style technology finance service model in Liaoning, fostering a favorable ecosystem for financial support of technological innovation [4].

Core Viewpoint - The collaboration between Shaanxi Equity Exchange and Xi'an Jiaotong University National Technology Transfer Center aims to bridge the gap between technology and capital, facilitating the transformation of scientific achievements into marketable products, exemplified by the successful seed round financing of Xian Cold Electric Technology Co., Ltd. [1][2] Group 1: Challenges in Technology Transfer - The transformation of scientific achievements from laboratories to production faces significant financial barriers, with early-stage tech companies experiencing widespread difficulties in securing funding [2] - Despite national policies and special funds aimed at supporting tech startups, many entrepreneurs find these initiatives insufficient and unclear [2] - The tightening of IPOs and limited exit channels exacerbate the "difficult and expensive financing" situation for early-stage tech enterprises [2] Group 2: Innovative Solutions - The establishment of the Western Innovation Port Zone provides a tailored service area for tech transformation companies, creating a "fast track" from laboratories to capital markets [3] - The zone focuses on a comprehensive financial service system, addressing issues such as brand awareness, equity liquidity, and corporate governance [3] Group 3: Specialized Services Offered - The "University Angel Investment" service targets early-stage project financing, addressing the challenges of limited funding channels for founders and providing pathways for angel investors [4] - The "Service + Equity Rights" model allows early-stage companies to obtain services at low costs while ensuring equity rights are secured and transferable [4] - The "Innovation Port Angel Station" connects investment institutions with promising early-stage projects through events like roadshows and salons [4] - A dedicated team of experts provides comprehensive support throughout the business lifecycle, from incubation to growth [4] Group 4: Case Study of Cold Electric Technology - Cold Electric Technology, a high-tech company focused on medical applications, faced challenges due to limited market recognition and financial constraints [5] - The company participated in the "Angel Investment" event, showcasing its core technology and market potential, leading to a tailored service plan from Shaanxi Equity Exchange [5][6] - The company was listed in the Western Innovation Port Zone and later transitioned to the "Specialized, Refined, Unique, and Innovative" board, receiving comprehensive financial services [6] Group 5: Achievements and Future Plans - Cold Electric successfully secured millions in seed round investment, which will be used for product development and market expansion [7] - The company has developed a product matrix and is focusing on the pet market while planning to enter the human medical field after obtaining necessary certifications [7] - The collaboration between Shaanxi Equity Exchange and Xi'an Jiaotong University exemplifies how innovative financial solutions can empower hard-tech enterprises to thrive [7]