Group 1 - The core viewpoint emphasizes the need for financial services to innovate in supporting early-stage technology enterprises, particularly through equity investment and bank credit [1][2][3] - The Chinese government is actively promoting a diversified and multi-channel approach to technology financing, as outlined in the recent policy measures from seven departments [1] - There is a focus on enhancing the capabilities and willingness of equity investment institutions to support technology innovation, especially in providing long-term, low-cost funding [2] Group 2 - Banks are encouraged to explore effective paths for early and small loans to technology startups, despite the inherent uncertainties in their operations [3] - The integration of loan and external direct investment models is being explored by commercial banks to mitigate risks associated with technology transfer [3] - There is a call for improved risk-sharing mechanisms and the development of technology insurance products to support the sustainability of financial services for early-stage technology companies [3]

Group 1 - The core viewpoint emphasizes the necessity of financial support for technological innovation, highlighting a new policy initiative aimed at providing comprehensive financial services throughout the lifecycle of technology development [1] - The policy aims to address financing needs in key areas of technological innovation, including venture capital, bank credit, capital markets, technology insurance, and bond issuance [1] - High-tech sectors are identified as critical fronts in international competition, necessitating robust financial backing to overcome challenges in core technology development and the transformation of traditional industries [1] Group 2 - The People's Bank of China has increased the scale of re-loans for technological innovation from 500 billion to 800 billion yuan, while reducing the re-loan interest rate from 1.75% to 1.5%, to enhance support for R&D and equipment upgrades [2] - A pilot insurance mechanism for major technological breakthroughs has been implemented to provide risk-sharing solutions in key sectors like integrated circuits and commercial aerospace [2] - The bond market in China, with a total scale of 183 trillion yuan, is positioned to offer efficient and low-cost funding for technological innovation, leading to the establishment of a "technology board" for innovation bonds [2] Group 3 - The development of technology innovation bonds is expected to alleviate fundraising challenges in the equity investment sector, encouraging more social capital to enter the technology innovation field [3] - The issuance of technology innovation bonds will support private enterprises in pursuing independent innovation, thereby fostering new productive forces [3] - The initiative aims to enhance collaboration between technology and financial sectors, ensuring that policies are effectively implemented to stimulate economic growth through technological advancements [3]

各省、自治区、直辖市及计划单列市科技厅（委、局）、新疆生产建设兵团科技局；中国人民 银行上海总部、各省、自治区、直辖市及计划单列市分行；各金融监管局；中国证监会各派出 机构，各交易所，各下属单位，各协会；各省、自治区、直辖市及计划单列市发展改革委、财 政厅（局）、国资委，新疆生产建设兵团发展改革委、财政局、国资委；各政策性银行、大型 银行、股份制银行、外资银行、直销银行、金融资产投资公司、理财公司，各保险集团（控 股）公司、保险公司、保险资产管理公司，各金融控股公司： 为深入贯彻党的二十大、二十届三中全会精神，认真落实全国科技大会、中央金融工作会议部署， 构建同科技创新相适应的科技金融体制，加强对国家重大科技任务和科技型中小企业的金融支持，科技 部、中国人民银行、金融监管总局、中国证监会、国家发展改革委、财政部、国务院国资委联合制定了 《加快构建科技金融体制 有力支撑高水平科技自立自强的若干政策举措》。现印发给你们，请遵照执 行。 科技部 中国人民银行 金融监管总局 中国证监会 国家发展改革委 财政部 （二）拓宽创业投资资金来源。将金融资产投资公司（AIC）股权投资试点范围扩大到18个城市所 在省份，支持保险 ...

Group 1 - The core viewpoint of the news is the introduction of a new policy initiative aimed at accelerating the construction of a technology finance system to support high-level technological self-reliance and innovation in China [1][2][3] - The policy initiative includes 15 measures across 7 areas, focusing on venture capital, bank credit, capital markets, technology insurance, fiscal policies, central-local collaboration, and creating an open innovation ecosystem for technology finance [1][2] - A notable measure is the establishment of a "National Venture Capital Guidance Fund" to promote the growth of technology-based enterprises and support the development of strategic emerging industries [1][2] Group 2 - The initiative emphasizes the importance of bank credit in supporting technological innovation, encouraging financial institutions to increase support for major national technology tasks and technology-based SMEs [2][3] - It proposes a special mechanism for bank credit support for technology innovation, including the establishment of identification standards for technology-based enterprises and a recommendation mechanism to facilitate effective support from financial institutions [2] - The policy also highlights the role of capital markets in supporting technology innovation, advocating for a counter-cyclical adjustment mechanism for new stock issuances and prioritizing financing for technology-based enterprises that achieve core technological breakthroughs [2][3] Group 3 - The initiative outlines the role of technology insurance as a stabilizing factor in supporting innovation, proposing the development of a comprehensive insurance product and service system covering the entire lifecycle of technology-based enterprises [2][3] - It encourages the participation of insurance funds in implementing major national technology tasks and explores risk-sharing pilot projects in key technology areas [2][3] - The policy aims to leverage fiscal policies to mobilize more financial resources for technology innovation, utilizing existing loan interest subsidies, insurance subsidies, and risk compensation policies [3] Group 4 - The initiative promotes central-local collaboration in advancing national technology finance efforts, including the establishment of innovation point systems and the implementation of special guarantee plans linked to technology innovation [3] - It supports foreign investment in domestic technology-based enterprises and the lawful overseas listing of technology-based companies [3] - A coordinated mechanism among the People's Bank of China, the Ministry of Science and Technology, and other regulatory bodies will be established to enhance policy coordination and information sharing in technology finance [3]