"深圳创新四姐妹""深圳机器人六小龙""深圳锂电材料四剑客"……在全国科技版图中，深圳占据重要位 置。目前，深圳的国家级专精特新"小巨人"企业、国家级高新技术企业数量已分别占全国总量的7%和 5%。 科技成果转化与资本市场衔接加速。深圳成立了全国首家科技成果与知识产权交易中心，探索构建科技 创新与金融资本有效对接、充分融合机制，累计促成交易33.2亿元。入选首批国家知识产权金融生态综 合试点，落地首个深港跨境"N+1"知识产权证券化项目，累计发行相关产品规模219.1亿元，惠及1400多 家企业。 此外，深圳也在优化科技型企业债权和股权融资协同衔接机制。用好科技创新债券风险分担工具，目前 10家科技型企业和股权投资机构在银行间市场发行科技创新债券，规模合计332.5亿元。 针对成熟期科技型企业金融服务适配性不够高、跨境金融服务不便利等问题，深圳构建起梯度融资培育 体系，深化创业板注册制改革，持续推进发行承销、再融资、股权激励等制度创新，强化创业板支持科 这一数字背后离不开金融支持，深圳正通过"股贷债保汇"联动体系，为不同生命周期的科技企业提供金 融支持。 近日，记者从深圳人行了解到，截至2025年7月末，深圳 ...

Group 1 - The capital market plays a crucial role in connecting technology, industry, and finance, significantly contributing to technological innovation and high-quality economic development [1] - The Ministry of Science and Technology has announced measures to enhance the capital market's ability to support technological innovation, including a "green channel" for key technology enterprises to facilitate financing, mergers, and bond issuance [1] - The capital market is increasingly inclusive, with policies being introduced to support financing for innovative enterprises, including broadening financing channels and allowing unprofitable innovative companies to go public [1][2] Group 2 - Since 2021, the STAR Market has seen 376 companies go public, raising over 600 billion yuan, indicating a robust growth in the technology finance system [2] - The merger and acquisition market has seen over 184 new projects disclosed since the introduction of the "merger six rules," focusing on major reorganizations aimed at core business and strategic cooperation [2] - The introduction of the "technology board" in the bond market has provided long-term, low-interest financing options for technology enterprises, with 288 entities issuing over 600 billion yuan in technology innovation bonds [2] Group 3 - The capital market has effectively matched innovation demands through risk diversification, precise pricing, and convenient exit strategies, showing significant results in serving technology innovation [3] - The establishment of a multi-tiered capital market system has improved the investment chain for angel, venture, and equity investments, optimizing the technology innovation ecosystem [3] - Future enhancements to the capital market's adaptability to technology innovation may include expanding support in the bond market, deepening reforms in the multi-tiered capital market system, and improving foundational systems for better information disclosure [3]

长江瞿塘峡风光。 新华社图 ◎记者 刘礼文 近五年，累计为实体经济提供专业服务项目3391个，服务规模突破2472亿元。其中，服务成渝地区双城 经济圈项目580个，服务金额852亿元；服务重庆地区项目373个，服务金额481亿元…… 一组来自西南证券的数据，透露出其聚焦回归重庆和主责主业、服务国家战略和实体经济的最新成果， 更彰显其践行金融报国、争当资本市场服务重庆经济社会发展的排头兵和领头雁的担当作为。 作为唯一一家注册地在重庆的国有控股上市券商，西南证券下一步将如何通过把自身的稳健发展与当地 城市发展战略布局紧密结合起来，更加适配重庆的实体经济和产业结构特点，更好服务国家战略大局？ 西南证券党委书记、董事长姜栋林在接受上海证券报记者采访时表示，西南证券将按照"立足重庆，辐 射西部，服务全国大局"的发展定位，做好金融"五篇大文章"，将证券公司功能性作用务实高效地落实 到服务重大战略和现代化产业体系建设中，全力打造"西部领先、全国进位和重庆辨识度"的标志性改革 成果。 探索"产业+资本"协同合作新模式 当下，重庆正加快构建现代化产业体系，全力打造"33618"现代制造业集群，积极抢占新赛道，推动"四 侧"协同 ...

Core Insights - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has surpassed the "Tokyo-Yokohama" cluster to become the world's top innovation cluster according to the World Intellectual Property Organization (WIPO) [1][2] - The "Macau-Zhuhai" innovation cluster has made it to the global top 100 list for the second consecutive time, highlighting the strong vitality of technological innovation in the Guangdong-Hong Kong-Macao Greater Bay Area [1] Summary by Sections Innovation Cluster Rankings - The "Shenzhen-Hong Kong-Guangzhou" cluster is now ranked first globally, indicating a significant achievement in innovation [1] - The "Macau-Zhuhai" cluster's inclusion in the top 100 for the second time reflects ongoing innovation efforts in the region [1] Intellectual Property Development - Guangdong has established 573 high-value patent cultivation centers and 1,243 national intellectual property advantage demonstration enterprises [1] - Over 445 projects have been initiated to promote intellectual property cooperation in the Greater Bay Area [1] Patent Applications and Financial Impact - Seven companies from Guangdong are among the top 50 global PCT patent applicants for 2024, with Huawei maintaining its position as the world's number one for seven consecutive years [2] - The Greater Bay Area's nine cities ranked fifth globally in PCT international patent applications for 2024, emphasizing the importance of high-quality patent reserves for economic development [2] Patent Utilization and Financing - Guangdong's patent transfer and licensing actions reached 692,700 instances during the 14th Five-Year Plan period, leading the nation [2] - The province saw an increase of 830.55 billion yuan in patent and trademark pledge financing, benefiting 16,700 enterprises [2] Future Directions - The Guangdong market regulation (intellectual property) system aims to enhance high-value patent cultivation and utilization, optimize market mechanisms, and improve the efficiency of innovation results transformation [2]

Core Viewpoint - The transformation of Qianhai from a manufacturing hub to a global innovation center is driven by technological innovation, with the service industry playing a crucial role in reshaping the value chain of "intelligent manufacturing" [1][3]. Group 1: Economic Development in Qianhai - Qianhai has seen significant growth since its establishment in 2010, with actual foreign investment reaching 26.65 billion yuan, fixed asset investment at 169.1 billion yuan, and tax revenue at 89.2 billion yuan, marking increases of 117 times, 93 times, and 171 times respectively since its inception [4]. - The modern service industry is the backbone of Qianhai's economy, contributing 95.26 billion yuan in value added in the first half of the year, a year-on-year growth of 8.6%, accounting for 84% of the service industry and 65.5% of GDP [4]. Group 2: Technological Service Industry - The role of the technology service industry has evolved from being a support function to becoming a central value driver in the industrial chain, with some companies now viewing it as a significant profit growth area [6][11]. - A plan was launched to enhance the quality of the technology service industry in Qianhai, aiming to increase the number of high-level R&D centers to over 100 and foreign investment proportion to over 30% by the end of 2027 [7]. Group 3: Financial Services and Innovation - Qianhai is positioned as a key area for financial services innovation, focusing on emerging financial sectors, cross-border finance, and technology finance, with initiatives like "Tech Startup Pass" providing credit services to over 4,100 enterprises [14][15]. - The Hong Kong Stock Exchange has become a major platform for IPOs, with Qianhai facilitating connections for companies seeking to list in Hong Kong, enhancing cross-border financial cooperation [15][16]. Group 4: Legal and Professional Services - Qianhai has established itself as a hub for legal services, with the Shenzhen International Arbitration Court handling disputes amounting to 142.3 billion yuan, ranking among the top three globally [19]. - The "Shenzhen·Qianhai Outbound E-Station" platform integrates various public services for outbound enterprises, having served over 800 companies and establishing partnerships with 40 overseas park operators [19].

Core Viewpoint - The article highlights the integration of technological and industrial innovation in Yuhang, Hangzhou, showcasing a comprehensive mechanism that supports innovation from inception to market realization through policies, platforms, and protection measures [1][2][3][4][5] Group 1: Innovation Achievements - Yuhang has seen significant innovation progress in the first half of the year, with 5,388 new patent authorizations, including 2,283 invention patents, averaging nearly 30 patents per day [2] - The district has led or participated in the release of 5 international standards and 4 national standards, with a total of 33 international standards established, marking a substantial increase since the administrative division adjustment [2] Group 2: Policy Support - The "New Quality Productivity High-Quality Development 68 Policies" introduced in Yuhang aims to optimize the utilization of intellectual property, providing interest subsidies for companies using patents and data intellectual property as collateral for loans [2] - Yuhang has successfully issued 12 intellectual property securitization products, raising over 1.229 billion yuan, covering 908 patents in strategic emerging industries, saving companies approximately 55.6 million yuan in financing costs [2] Group 3: Platform Development - Yuhang has established a demand-oriented high-level platform system to facilitate the rapid transformation of innovative results, significantly reducing time costs for companies [3] - The district has coordinated with top resources like the National Medical Products Administration to streamline the registration process for medical devices, resulting in 41 new registrations this year [3] Group 4: Protection Mechanisms - Yuhang has implemented a multi-dimensional protection network for commercial secrets and data intellectual property, establishing a dual-track protection system that includes preventive measures and punitive actions [4][5] - The district has set up 3 demonstration zones for commercial secret protection and 18 guidance stations, enhancing protection at the grassroots level [4] - Yuhang has introduced a fast-track channel for data intellectual property infringement cases, reducing the recognition period by 60%, and has registered 2,906 data intellectual property certificates this year, ranking first among all districts [5]

Core Viewpoint - The Shenzhen Stock Exchange (SZSE) is actively exploring innovative financing tools to alleviate the financing difficulties faced by small and medium-sized enterprises (SMEs) and enhance the connection between the bond market and the financing needs of SMEs [1][2] Group 1: Initiatives and Actions - SZSE held a seminar titled "Innovative Financing Tools Empowering SMEs" to discuss practical measures for using the bond market to address the financing challenges faced by SMEs [1] - The exchange plans to implement the decisions of the Central Committee and continue to understand the financing needs of SMEs, promoting the role of supply chain financial asset securitization products [1][2] - SZSE aims to increase the variety of innovative bond products, including CMBS and REIT-like fixed income products, to support the healthy development of SMEs [1] Group 2: Recent Developments - Recent bond market initiatives include the successful issuance of a supply chain financial ABS by Longfor Properties amounting to 402 million yuan, which helps 306 upstream SMEs recover accounts receivable at a low cost [2] - The first knowledge property securitization product for high-growth innovative SMEs was listed on SZSE, with an initial scale of 100 million yuan, involving 105 patents from 16 companies [2] Group 3: Seminar Participation - The seminar was conducted online, with nearly 300 participants, including representatives from the China Securities Regulatory Commission, SZSE, local government departments, and various financial institutions [2]

Core Insights - The asset securitization market is experiencing a decline in both existing and new issuance volumes, yet the number of trust companies participating in this sector continues to grow, indicating a shift in focus towards asset securitization as a mainstream business for the trust industry [1][2] Group 1: Knowledge Property Securitization - In April 2023, a significant knowledge property securitization project led by China Foreign Trade Trust was successfully issued, with a total framework size of 1 billion yuan, marking it as the largest project in Chongqing covering nine high-tech enterprises [2][3] - From 2018 to August 2024, a total of 153 knowledge property securitization products have been issued in China, with a cumulative scale of 29.148 billion yuan, highlighting the growing interest in this area despite overall market adjustments [3][4] Group 2: Asset Types and Regulations - The implementation of the "Three Classification New Regulations" in 2023 has diversified the types of assets that can be securitized, including loans, receivables, and royalties, which can generate predictable cash flows [4][5] - The green asset securitization market has seen significant growth, with a scale reaching 90.947 billion yuan, reflecting the industry's commitment to supporting green initiatives [4] Group 3: Challenges and Opportunities - Trust companies face increasing competition in the asset securitization space, necessitating improvements in their full-chain service capabilities and professional expertise to enhance their market position [6][7] - There is a growing trend for trust companies to explore personal consumption loan asset securitization, driven by the demand from internet platforms for new issuance opportunities [5][6]

Core Viewpoint - The Guangzhou Development Zone and Huangpu District are implementing new financial policies aimed at enhancing financial services for the real economy, focusing on targeted support for enterprises' financing needs and promoting high-quality industrial development. Group 1: Financial Support Measures - The new policies include financial support measures such as a maximum of 20 million yuan for qualifying financial institutions, 500,000 yuan for knowledge property pledge financing per enterprise, and the establishment of a 5 billion yuan technology innovation and entrepreneurship investment fund [1][2]. - The policies aim to encourage the establishment of licensed financial institutions and provide substantial startup cost support, with up to 20 million yuan for new headquarters and 1.5 million yuan for specialized subsidiaries [2][4]. Group 2: Focus on Intellectual Property - The new policies emphasize intellectual property as a key focus, addressing the long-standing issue of "light assets and financing difficulties" faced by technology enterprises [5][6]. - Support for enterprises obtaining pledge financing through legally owned intellectual property includes a maximum of 50% of actual financing interest, capped at 500,000 yuan per enterprise [6][7]. Group 3: Venture Capital and Investment - The policies provide funding subsidies for venture capital firms investing in non-listed companies, with a cumulative maximum of 20 million yuan [4]. - Venture capital firms investing in seed and early-stage technology innovation enterprises for over two years can receive up to 100,000 yuan per investment [4]. Group 4: Financial Innovation and Services - The policies encourage financial product and service innovation, with support for national-level financial innovation pilot projects and green finance product innovations, offering up to 100,000 yuan for each approved project [8]. - The establishment of a 5 billion yuan technology innovation and entrepreneurship investment fund aims to attract social capital to strategic emerging industries [8]. Group 5: Support for Listed Companies - The district promotes the standardization of corporate governance for listed companies and leverages capital markets for high-quality development, with a structured approach to nurturing potential listed companies [9][10]. - The district has cultivated nearly 400 seed enterprises and is actively guiding them towards becoming key players in the market [10].

Core Viewpoint - The article discusses the recent policies introduced by the Guangzhou Development Zone (Huangpu District) aimed at enhancing financial services to support high-quality development of the real economy and technological innovation, with a focus on flexible investment mechanisms and risk tolerance [1][3]. Group 1: Policy Measures - The newly introduced measures include a total of 50 billion yuan for a technology innovation and entrepreneurship investment mother fund, which will leverage social capital to focus on strategic emerging industries [3]. - The policy framework consists of a "12345" modern financial investment service system, which includes one policy system, two major cultivation projects, three service mechanisms, four service carriers, and five activity brands [1]. - The risk tolerance mechanism allows for significant losses in seed and angel investments, with up to 100% loss permitted for individual projects, marking a shift in the approach of state-owned funds [3][4]. Group 2: Financial Support and Investment - The new policies provide substantial financial support for licensed financial institutions and venture capital firms, with incentives up to 2 million yuan for headquarters and 100,000 yuan for investments in early-stage technology companies [8]. - The Guangzhou Development Zone has over 900 venture capital institutions with a total scale exceeding 270 billion yuan, indicating a robust investment landscape [8]. - Knowledge property rights are emphasized as a key focus area, with policies encouraging companies to use intellectual property as collateral for financing, thus addressing funding challenges for startups [9][11]. Group 3: Economic Impact - The Huangpu District has seen significant growth in its industrial output, with the automotive industry generating 62.36 billion yuan in value, reflecting an 8.7% increase, and the integrated circuit industry growing by 17.1% [13]. - The district's GDP reached 206.91 billion yuan, with a year-on-year growth of 4.0%, surpassing the city's growth rate of 3.8% [13].