2025年北京市未来产业公开路演量子专场11月24日在中关村创业大厦举行。华翊量子、未磁科技等8家 量子领域创新企业依次登台展示，与中科创星、同方科创、高精尖基金、策源资本、惠丰达资本、啟赋 资本等投资机构代表深度交流技术突破、场景落地经验，共探产业发展新趋势。此次公开路演致力于打 造涵盖资金、基金、信贷产品、孵化培育于一体的投融资服务平台，不仅为创新企业提供了展示实力的 舞台，更搭建了政企对接、资企合作、产学研融合的长效沟通机制。北京市经济和信息化局也计划通过 公开路演遴选出潜力企业，给予不超过100万元的奖励，推动企业快速发展，为未来产业发展注入新动 力。 破解创新企业融资瓶颈 北京市经济和信息化局科技标准处(人才工作处)处长王晶表示，此次路演聚焦量子信息方向，汇聚8家 量子前沿领域的潜力企业，旨在搭建精准对接桥梁，推动社会资本"投早、投小、投硬科技"，破解创新 企业融资瓶颈。 王晶介绍，未来产业代表着新一轮科技革命和产业变革方向，是经济增长的最活跃力量。北京市率先开 展未来产业前瞻布局，在谋划《"十四五"高精尖产业发展规划》时，将未来产业作为关键一环，提出瞄 准国际前沿抢占产业发展制高点，超前部署一批具 ...

制度创新推动了长期资金源源不断流入科技企业。自今年3月初国家金融监督管理总局开展适度放宽科 技企业并购贷款政策试点以来，商业银行纷纷落地科技企业并购贷款试点业务，受到众多科技企业的欢 迎。 我国并购贷款在企业并购融资结构中占比较低，远低于国际成熟市场的水平。并购贷款政策试点优化的 一项重要内容，是将参股型并购纳入支持范围，突破了传统控股型并购的局限，适配了企业通过战略投 资实现技术协同、产业链互补的多元需求。同时，贷款比例上限提升和针对科技企业的专项政策，直面 中小企业并购资金缺口大、科技企业轻资产、融资难的痛点，为培育新质生产力提供了金融活水。 以政策"松绑"为并购市场注入制度红利，既呼应了产业升级对资本配置的需求，也是当前进一步改善金 融支持创新政策环境的有效举措。据万得资讯数据统计，2025年前三季度，我国并购市场（包含中国企 业跨境并购）共披露5870起并购事件，交易规模达14981亿元。未来随着相关政策的不断落地，有望释 放千亿元级融资空间。 并购贷款需精准把握创新发展与风险防控的平衡，让金融活水既滋养产业整合，又牢牢守住不发生系统 性风险的底线，这是并购贷款可持续发展的前提。从银行业务层面看，面临 ...

2025年北京市未来产业公开路演量子专场昨日在中关村创业大厦举行。华翊量子、未磁科技等8家量子领域创新企业依次登台展示， 与中科创星、同方科创、高精尖基金、策源资本、惠丰达资本、啟赋资本等投资机构代表深度交流技术突破、场景落地经验，共探产 业发展新趋势。此次公开路演致力于打造涵盖资金、基金、信贷产品、孵化培育于一体的投融资服务平台，不仅为创新企业提供了展 示实力的舞台，更搭建了政企对接、资企合作、产学研融合的长效沟通机制。北京市经济和信息化局也计划通过公开路演遴选出潜力 企业，给予不超过100万元的奖励，推动企业快速发展，为未来产业发展注入新动力。 破解创新企业融资瓶颈 落实未来产业投入增长机制 据了解，本次路演活动属于"创赢未来"项目路演活动系列活动，是北京市经济和信息化局落实未来产业投入增长机制的重要举措，旨 在形成以市场化方式挖掘优质企业、以接力支持方式做强未来产业的产业培育新机制。 王晶介绍，未来产业代表着新一轮科技革命和产业变革方向，是经济增长的最活跃力量。北京市率先开展未来产业前瞻布局，在谋划 《"十四五"高精尖产业发展规划》时，将未来产业作为关键一环，提出瞄准国际前沿抢占产业发展制高点，超前部署 ...

Core Viewpoint - The recent release of the "Opinions on Supporting Mergers and Acquisitions to Promote High-Quality Development of Listed Companies" signals a significant policy shift aimed at enhancing the quality of listed companies and fostering new productive forces through mergers and acquisitions (M&A) reform [1][2]. Group 1: Policy Direction - The "Opinions" outline three main goals for M&A: improving the quality of listed companies, developing new productive forces, and promoting industrial integration and upgrading [2]. - The policy encourages resources to be directed towards strategic emerging industries and future industries, particularly in fields such as artificial intelligence, healthcare, integrated circuits, and smart connected vehicles [2][3]. Group 2: Market Dynamics - The recent performance of the Beijing Stock Exchange (BSE) indicates a positive market sentiment towards the reforms, with the BSE 50 Index rising by 8.41% on October 29, followed by sustained trading activity with a total market turnover of 2.46 trillion yuan [1]. - The case of China Shenhua's acquisition of 13 energy assets, resulting in a nearly one trillion yuan energy conglomerate, exemplifies the market's recognition of the synergistic benefits of industrial integration [2]. Group 3: Support Mechanisms - The "Opinions" propose the establishment of a "key M&A target project list" and the creation of non-profit M&A service platforms to address information asymmetry and enhance project matching efficiency [4]. - The policy encourages the establishment of market-oriented M&A funds and collaboration with government investment funds to meet the demand for "patient capital" necessary for long-term industrial integration [4]. Group 4: Regulatory Environment - The "Opinions" emphasize the need for a "M&A pain point radar mechanism" to identify and resolve institutional barriers, alongside simplifying administrative approval processes to create a more conducive environment for M&A [5]. - Enhanced risk monitoring and regulatory measures are highlighted, focusing on protecting minority investors and preventing fraudulent activities, ensuring that M&A transactions do not compromise the ongoing operational capabilities of listed companies [6].

Core Viewpoint - The Tianjin financial regulatory authorities and local financial organizations are promoting a long-term mechanism integrating technology, industry, and finance to enhance financial services for technological innovation and industrial development [1][3]. Group 1: Demonstration Institutions and Products - Demonstration institutions are breaking away from traditional management models and adapting to the forefront of technological innovation and industrial development through systematic restructuring of their development concepts, operational models, organizational structures, credit approval processes, talent cultivation, and incentive mechanisms [2]. - Demonstration products showcase innovative practices by financial institutions that cater to the operational characteristics and financial needs of enterprises at different development stages, including technology innovation corporate bonds, technology enterprise merger loans, and research and development insurance [2]. Group 2: Focus on Key Industrial Chains - The demonstration cases focus on strengthening and extending key industrial chains in Tianjin, with financial institutions providing customized financial services based on the characteristics and actual needs of technology innovation enterprises at various stages, such as startup, growth, and maturity [2][3]. - The event signifies the gradual realization of a new long-term mechanism in Tianjin, promoting growth in the quantity, expansion in the scope, improvement in quality, and breakthroughs in financial services for technological innovation and industrial upgrades [3].

Core Viewpoint - The People's Bank of China Jiangsu Branch has released an action plan aimed at enhancing financial support for high-quality economic development in Jiangsu by 2027, focusing on five key areas of financial innovation and support [1] Group 1: Action Plan Overview - The action plan outlines five major initiatives: technology financial innovation, green finance enhancement, inclusive finance expansion, pension finance support, and digital finance empowerment, with 21 specific measures to improve financial support's effectiveness and sustainability [1][2] - The plan emphasizes the need for collaboration between financial policies and industrial policies, advocating for a systematic approach to implementation [1] Group 2: Technology Financial Innovation - Technology finance is prioritized in the action plan, with a focus on supporting major national technology tasks and technology-based enterprises through enhanced financial services [2] - Specific measures include the implementation of a "special guarantee plan for supporting technological innovation," and the promotion of a comprehensive support mechanism combining equity, loans, and funds [2] - The plan aims to improve the adaptability of financial products and services for technology enterprises, addressing their unique risk profiles and funding needs [2] Group 3: Pilot Programs and Reforms - Jiangsu has initiated several pilot programs in technology finance, achieving notable results, such as increasing the loan-to-acquisition price ratio for technology enterprise mergers from 60% to 80% and extending loan terms from 7 to 10 years [3] - These reforms are designed to facilitate industry consolidation, particularly for leading enterprises in the technology sector [3]

Core Insights - The Guangdong-Hong Kong-Macao Greater Bay Area is focusing on becoming an international technology innovation center, achieving breakthroughs in technology innovation, industrial upgrading, and regulatory alignment [2][3] - The Guangdong Financial Regulatory Bureau has introduced policies to support the development of technology finance, including pilot programs for mergers and acquisitions loans and intellectual property financing [2][3] - As of June, the scale of technology loans in Guangdong reached 5.78 trillion yuan, a 9.58% increase from the beginning of the year, with high-tech enterprise loans leading the nation [3][5] Policy Initiatives - In May, seven ministries jointly released 15 measures to support the Greater Bay Area's international innovation center, providing new policy opportunities for technology finance [2] - The establishment of the first batch of technology enterprise merger loan pilots and the expansion of financial asset investment company equity investment trials are key initiatives [2][3] Financial Performance - By the end of June, the scale of financial asset investment companies in Guangdong was 4.7 billion yuan, with merger loan credit scale reaching 8.3 billion yuan [2] - The cumulative risk protection provided by technology insurance for over 200,000 technology enterprises exceeded 3 trillion yuan, marking a 76% year-on-year increase [3] Challenges and Future Directions - The development of new quality productivity presents challenges for technology finance, including the need for enhanced service effectiveness and better ecological collaboration [5][6] - The Guangdong Financial Regulatory Bureau aims to establish a new paradigm for technology finance services that aligns with the development of new quality productivity [5][6] - Future construction of technology branches will focus on product specialization, differentiated systems, and diversified services to enhance the technology finance service system [6]

Core Insights - As of the end of June, the outstanding balance of technology loans in Wuhan exceeded 800 billion yuan, representing a growth of 12.4% compared to the beginning of the year [1] Group 1: Financial Developments - Wuhan has been included in the pilot programs for financial asset investment company equity investment and technology enterprise acquisition loans, which has prompted the city to actively guide investments towards early-stage, small-scale, and hard technology [1] - Four AIC equity investment funds have been established in Wuhan, with a total scale of 3.6 billion yuan [1] - Under the pilot policy, technology enterprise acquisition loans amounting to 482 million yuan have been disbursed [1]

Group 1 - The core viewpoint of the news is that Nanjing Bank has shown stable growth and improved quality in its operations, driven by its new five-year strategic plan, which emphasizes sustainable development across various dimensions [1] - The bank has established a comprehensive strategic framework called "12345," which includes one vision, two engines, three business segments, four development focuses, and five brand identities [1] Group 2 - Nanjing Bank is accelerating the development of its five key business areas: Sci-Tech Banking, Investment Banking, Wealth Banking, Transaction Banking, and Digital Banking [2] - In the Sci-Tech Banking sector, the bank has launched innovative products such as Sci-Tech financial bonds and M&A loans for tech companies, with a technology finance balance of 166.8 billion yuan, an increase of 18.4 billion yuan, or over 12% from the beginning of the year [2] - The Investment Banking division has enhanced its service offerings, with a 17% year-on-year increase in the number of clients served for debt issuance, and has underwritten nearly 150 billion yuan in non-financial corporate debt financing tools, ranking first in Jiangsu Province [2] - Wealth Banking has seen a retail financial asset balance of 944.8 billion yuan, growing by 117.9 billion yuan, or 14%, with a nearly 14% increase in the number of wealth clients since the beginning of the year [2] - Transaction Banking has focused on enterprise operational scenarios, achieving over 168.9 billion yuan in supply chain finance business volume, with a net increase of 71 group clients in the XinYun financial service platform compared to the end of 2024 [2] - The Digital Banking sector is developing an "industrial brain" intelligent platform, creating knowledge graphs for multiple industries to support industry analysis and customer service [2] Group 3 - Nanjing Bank has made steady progress in organizational restructuring, aligning its structure with strategic planning and operational models [3] - The bank has established new departments such as the Sci-Tech Finance Department and the International Business Department, and has optimized its retail credit and private banking services [3] - These adjustments aim to enhance the bank's professional capabilities and competitive strengths to adapt to industry changes and pursue balanced sustainable development [3]

Core Insights - The implementation of the pilot program for technology enterprise merger loans in Suzhou has led to significant progress, with 9 banks processing 14 loans totaling 2.497 billion yuan, and 1.862 billion yuan actually disbursed by the end of July [1][2] Group 1: Policy Implementation and Efficiency - The Suzhou Financial Regulatory Bureau has effectively enhanced approval and disbursement efficiency by organizing meetings to interpret policies and deploying trial banks to improve their operational mechanisms [2] - A "merger financial service team" has been established by some trial banks to streamline the approval process and boost loan disbursement efficiency [2] Group 2: Support for Technology Enterprises - The new policy has significantly aided technology enterprises in their strategic transformations, enabling them to pursue cross-industry mergers to foster new growth [3] - Financing support for cross-border mergers has been increased, allowing technology companies to integrate global resources and enhance their international presence [3] - The policy encourages technology enterprises to strengthen their supply chains by acquiring quality upstream and downstream companies, thereby enhancing market competitiveness [3] Group 3: Market Expansion and Future Plans - The policy supports companies in expanding their market presence through strategic acquisitions, as evidenced by a loan of 190 million yuan to acquire a 65% stake in a gas company [4] - The Suzhou Financial Regulatory Bureau plans to accelerate project reserves and support more merger projects, ensuring that funds are used effectively for technology enterprise mergers [6] - Risk management mechanisms will be strengthened to ensure the smooth progress of the pilot program, with a focus on evaluating various risks associated with mergers [6]