中国人民银行10月24日发布的《2025年三季度金融机构贷款投向统计报告》显示，我国信贷资源配置结 构正持续优化，精准服务实体经济的能力不断增强。数据显示，截至三季度末，获得贷款支持的科技型 中小企业数量已增至27.54万家，整体获贷率提升至50.3%，较2024年同期上升2.8个百分点。值得关注 的是，自一季度以来，科技型中小企业获贷率已实现连续三个季度环比增长。 在政策引导和市场需求的双重驱动下，金融机构正通过产品创新、风险评估模型优化等手段，积极适应 科创企业的融资特点，推动金融服务从"有没有"向"好不好"和"精不精"转变，实现了对科创企业的"应 贷尽贷"和"优贷快贷"。 普惠、绿色、民生领域稳中向好 在突出支持科创主体的同时，前三季度，我国信贷结构性支持工具继续发挥其在平衡发展、服务民生和 促进转型中的关键作用，共同托举了经济的持续健康动能。 普惠金融支持小微主体。普惠小微贷款作为稳就业、保民生的重要抓手，持续保持较快增长。三季度 末，人民币普惠小微贷款余额36.09万亿元，同比增长12.2%，增速比各项贷款高5.6个百分点，前三季 度累计增加3.15万亿元。这不仅有力支持了广大的个体工商户和小微企业 ...

中国人民银行10月24日发布的数据显示，2025年三季度末，获得贷款支持的科技型中小企业27.54万 家，获贷率为50.3%，比去年同期高2.8个百分点。本外币科技型中小企业贷款余额3.56万亿元，同比增 长22.3%，增速比各项贷款高15.8个百分点。 中国人民银行当日发布的金融机构贷款投向统计报告显示，今年以来，贷款支持科创企业力度较大。三 季度末，获得贷款支持的高新技术企业26.66万家，获贷率为57.6%，比去年同期高0.8个百分点。本外 币高新技术企业贷款余额18.84万亿元，同比增长6.9%，增速比各项贷款高0.4个百分点。 与此同时，绿色贷款和普惠小微贷款快速增长。三季度末，本外币绿色贷款余额43.51万亿元，比年初 增长17.5%；人民币普惠小微贷款余额36.09万亿元，同比增长12.2%。 此外，工业中长期贷款数据也表现较好。三季度末，本外币工业中长期贷款余额26.59万亿元，同比增 长9.7%；本外币基础设施相关行业中长期贷款余额43.47万亿元，同比增长6.7%。（记者吴雨、任军） 【纠错】 【责任编辑:王佳宁】 ...

北京商报讯（记者 岳品瑜 董晗萱）10月24日，人民银行发布2025年三季度金融机构贷款投向统计报 告。2025年三季度末，获得贷款支持的科技型中小企业27.54万家，获贷率为50.3%，比去年同期高2.8 个百分点。本外币科技型中小企业贷款余额3.56万亿元，同比增长22.3%，增速比各项贷款高15.8个百 分点。 2025年三季度末，获得贷款支持的高新技术企业26.66万家，获贷率为57.6%，比去年同期高0.8个百分 点。本外币高新技术企业贷款余额18.84万亿元，同比增长6.9%，增速比各项贷款高0.4个百分点。 ...

Core Viewpoint - Zhejiang Province has issued the "Action Plan for Accelerating the Cultivation and Development of High-Quality Enterprises (2025-2027)", outlining clear goals and key tasks to promote high-quality development of enterprises in the region [1][2]. Group 1: Goals and Targets - By 2027, the plan aims for 63,000 industrial enterprises above a designated size, 42,000 innovative small and medium-sized enterprises, 18,000 specialized and innovative small and medium-sized enterprises, 2,500 "little giant" enterprises, 300 manufacturing champions, and 150 "eagle" enterprises [2][3]. Group 2: Strategies for Enterprise Cultivation - The plan emphasizes a multi-dimensional and tiered enterprise cultivation strategy to stimulate innovation and development among various enterprises, particularly focusing on the growth of micro and small enterprises [3][4]. - It includes measures to enhance the entrepreneurial mentor system, improve entrepreneurial guidance, and strengthen the construction of technology-based incubators, while also optimizing company registration processes [3][5]. Group 3: Support for Technology-Driven Enterprises - The plan encourages the use of talent support policies, financial backing for startups, and the acceleration of patent commercialization, alongside hosting innovation competitions with follow-up management for awarded projects [4][6]. - It aims to improve resource utilization efficiency by aggregating quality resources towards high-quality enterprises through land supply, industry fund guidance, and financial support [4][8]. Group 4: Digital Transformation and High-Tech Development - A new round of "small to large" actions will be implemented to support enterprises in reaching regulatory standards, with a focus on digital, intelligent, and green development [5][6]. - The plan promotes tax incentives for R&D expenses and the establishment of a high-tech enterprise cultivation database [5][6]. Group 5: Unicorn and Leading Enterprises - The plan includes the cultivation of unicorn and gazelle enterprises, with mechanisms for tracking major technology projects and supporting their commercialization [6][7]. - It emphasizes the development of listed companies and "chain master" enterprises, enhancing services for enterprise listings and promoting the establishment of new research institutions [6][8]. Group 6: Government and Financial Support - The plan highlights the role of government industry funds in attracting venture capital and guiding banks to provide targeted financial support [8]. - It aims to significantly improve enterprise quality and optimize industrial structure in the coming years, providing a model for national economic development [8].

Core Viewpoint - The article emphasizes the importance of correctly accounting for R&D expenses in high-tech enterprises to avoid tax risks, highlighting various categories of expense deductions and their implications under relevant policies [2]. Group 1: Personnel and Labor Costs - R&D expenses include salaries, social insurance, and housing funds for personnel directly engaged in R&D activities, as well as labor costs for external R&D personnel [3]. - The accounting scope for personnel costs is broader than the tax scope, and only costs related to technical personnel are included in high-tech enterprise deductions [3]. Group 2: Direct Input Costs - Direct input costs for R&D include materials, fuel, and power consumed during R&D activities [4]. - Costs for molds and equipment used in intermediate testing and product trials are also included, but not classified as fixed assets [4]. Group 3: Depreciation and Amortization - Depreciation for instruments and equipment used in R&D activities is eligible for deduction, but costs related to building renovations and repairs are not included [6]. - Amortization of intangible assets such as software and patents used in R&D is also deductible, with distinctions made between high-tech enterprise recognition and additional deductions [7]. Group 4: Design and Experimentation Costs - Costs for new product design, clinical trials, and field tests are included in R&D expenses, with specific conditions for eligibility [8]. - High-tech enterprise recognition includes equipment debugging and field trial costs, while accounting regulations allow for related expenses incurred during R&D processes [8]. Group 5: Tax Policies and Regulations - The article outlines that certain industries, including accommodation and catering, are not eligible for tax deductions on R&D expenses [30]. - It also discusses the conditions under which small-scale taxpayers in the catering industry can benefit from VAT exemptions and deductions [25][26].

Core Insights - The People's Bank of China reported a stable growth in total loans, indicating enhanced economic recovery momentum [1][2] - The structure of loans is optimizing, with significant increases in loans to small and micro enterprises, agricultural loans, and loans supporting technological innovation [1][3] Loan Growth Overview - As of the end of Q2 2025, the total balance of RMB loans reached 268.56 trillion yuan, a year-on-year increase of 7.1%, with an addition of 12.92 trillion yuan in the first half of the year [1] - Corporate loans accounted for 89% of the new loans, with an increase of 11.5 trillion yuan, highlighting the strong demand from enterprises [2] Sector-Specific Loan Trends - Green loans reached a balance of 42.39 trillion yuan, growing by 14.4% since the beginning of the year, with an increase of 5.35 trillion yuan in the first half [3] - Loans to technology-based small and medium-sized enterprises (SMEs) increased significantly, with a loan balance of 3.46 trillion yuan, reflecting a year-on-year growth of 22.9% [3] Future Outlook - The loan growth rate is expected to remain stable, with further optimization in structure, particularly in technology and green sectors [4] - The central bank is anticipated to enhance financial support for the real economy, with new loan disbursements expected to maintain a rapid growth trend [4][5]