2026年是"十五五"开局之年。坚持创新驱动，加紧培育壮大新动能，是2026年经济工作要抓好的重点任 务。其中，创新科技金融服务是中央经济工作会议明确的重点工作之一。 2025年在做好科技金融服务方面做了较多探索，国家创业投资引导基金在近日启动，形成了万亿资金规 模，将把种子期、初创期、早中期企业作为投资重点，用耐心资本陪伴企业"长跑"；国家金融监督管理 总局扩大金融资产投资公司（AIC）股权投资试点至全国18城，引导银行系资本"投早、投小、投硬科 技"；多地试点知识产权质押或者推动知识产权证券化，将分散专利打包成标准化金融产品进入资本市 场。 "创新科技金融服务的核心是打通'科技—产业—金融'的良性循环，让金融资源精准匹配硬科技企业全 生命周期的发展需求。"在受访专家看来，2026年创新科技金融服务将推出多项举措：一是健全知识产 权质押融资机制，推进知识产权质押贷款"前补偿"试点，让轻资产科创企业获得更多融资支持；二是扩 大"投贷联动""投保联动"试点范围，银行贷款与股权投资相结合，实现风险共担、收益共享；三是培育 耐心资本，推动AIC股权投资和科技创新债券发展，引导长期资本投早、投小、投硬科技；四是设立科 ...

深圳湾畔，一具钛银色的人形机器人正缓缓起势，打起太极，每一个推手、转身、云手都行云流水，精 准而柔和。这场表演颠覆了人们对机器人的想象：它的动作流畅得令人忘了它并非血肉之躯。 越来越多在岸边慢跑的市民驻足观看，有人还掏出手机拍摄。这台名为"夏起"的机器人，由深圳具身智 能创业企业数字华夏研发。"夏起"每个动作的协调性与精准度，都彰显着深圳在双足机器人运动控制领 域的突破。 人形机器人产业快速发展的背后，是保险的无声守护。近日，中央广播电视总台"央视财经金融强国 ——大湾区金融之夜"在深圳成功举办。活动以"金融赋能湾区 创新引领未来"为主题，生动展现大湾 区"十四五"期间金融领域改革创新成果。在活动上，平安产险的具身智能综合金融解决方案入选了"大 湾区金融高质量发展典型案例"，并通过短片展示了保险助力人形机器人研发创新的有益探索。 中国平安董事会秘书兼品牌总监盛瑞生出席活动并参加对话环节。他表示，为助力高水平科技自立自 强，平安充分发挥综合金融优势，保险、银行、证券、租赁等各个成员公司紧密协同，打造"投、保、 贷"一揽子综合金融解决方案，构建起多层次的金融支持体系，为科技创新企业提供覆盖研发、生产、 运营、销售 ...

格隆汇12月18日｜四川省人民政府办公厅印发《促进全社会加大研发投入工作方案》，其中提出，加大 金融支持科技创新力度。优化国有创新投资基金考核机制，政府引导基金和国资基金投资损失容忍率最 高60%，对于投资种子期企业或未来产业的基金可进一步提高到80%，单个企业（项目）最高允许100% 亏损。引导和支持股权投资机构加大对成果转化项目和科技型企业的投资力度，鼓励有条件的市（州） 按经济贡献给予一定比例的奖励。完善上市企业后备资源库，企业所在地要"一企一策"支持企业开展股 份制改造、债券融资、并购重组，推动更多企业上市融资。用好用足科技创新和技术改造再贷款，推动 创新积分制与专项担保计划联动，支持科技型中小企业获得银行贷款。推动实施"天府科创保"，鼓励保 险机构为科技型企业、高能级创新平台等开展核心技术攻关、科技成果转化等开发科技保险产品。积极 稳妥开展科技企业并购贷款试点、知识产权金融生态综合试点、金融资产投资公司股权改革试点。 责任编辑：栎树 关键词阅读：科技保险 ...

Core Viewpoint - The article emphasizes the importance of integrating financial tools to address the disconnect between technology, industry, and capital, highlighting the need for a robust technology finance system in China to support technological innovation and economic growth [1][2]. Group 1: Current State of Technology Finance - Technology finance in China is characterized by high growth, a full chain approach, and diversification, effectively addressing high-risk areas such as basic research and technology transfer [1]. - The integration of effective markets with proactive government involvement distinguishes China's technology finance model from those of the US and Germany, which rely on private venture capital and stable banking systems, respectively [2]. Group 2: Challenges and Recommendations - Key challenges include the need to enhance the service capabilities of financial institutions, improve mechanisms for early-stage investments, and develop a more comprehensive financial product system [2]. - Recommendations include strengthening the collaboration between financial systems and technology sectors, building a specialized workforce in technology finance, and establishing digital infrastructure for better risk assessment and monitoring [2]. Group 3: Financing Structure and Product Development - There is a call to optimize the financing structure by supporting technology companies with key technological breakthroughs through multi-tiered capital markets and improving the bond market's support for innovation [3]. - Financial institutions are encouraged to create specialized financial products tailored to the lifecycle needs of technology companies and to innovate in technology insurance products to cover the entire chain from research to commercialization [3]. Group 4: Policy Coordination - The establishment of a coordinated mechanism for technology finance is essential, with a focus on enhancing collaboration between technology and financial departments, and supporting regional innovation centers in implementing technology finance policies [3].

Group 1: Core Insights - The integration of "Artificial Intelligence + Finance" is driving systemic transformation in the financial industry, reshaping workflows, service models, organizational structures, and value chains [1][2] - The "14th Five-Year Plan" emphasizes technological innovation as a core support for modernization, aiming to accelerate high-level technological self-reliance [2][3] - The financial technology sector is expected to benefit from policy incentives, technological integration, and the development of a comprehensive financial support ecosystem [3][4] Group 2: Opportunities and Challenges - The financial technology landscape is characterized by significant advancements in digital infrastructure and the marketization of data elements, which are crucial for financial institutions [2][4] - The need for a technology-finance ecosystem that supports innovation and addresses challenges such as information asymmetry and risk pricing is highlighted [5][6] - Financial institutions are encouraged to adopt innovative financing products and mixed financing models to better serve technology-driven enterprises [6][7] Group 3: Implementation and Future Directions - A comprehensive financial service model for technology enterprises should address their varying needs throughout different growth stages, from initial funding to expansion [6][8] - The ideal technology-finance ecosystem should balance technological development, financial innovation, regulatory oversight, and social welfare [8][9] - Beijing is positioned as a leading hub for digital finance, focusing on high-quality development and the application of AI in financial services [8][10]

Core Viewpoint - Beijing has introduced a new policy to enhance financial support for technology enterprises, aiming to alleviate funding challenges and promote rapid growth in the sector [1] Group 1: Policy Overview - The new policy, titled "Implementation Plan for Accelerating the Construction of a Technology Financial System to Support High-Level Technological Self-Reliance (2025-2027)," outlines 20 specific measures across eight areas including venture capital, monetary credit, capital markets, technology insurance, fiscal guidance, and financial openness [1] - The plan aims to achieve three main goals over three years, focusing on attracting long-term capital and improving funding access for tech companies [2] Group 2: Goal One - Attracting Long-Term Capital - The plan targets the introduction of over 1 trillion yuan in long-term and patient capital for technology innovation by the end of 2027 [2] - "Patient capital" refers to funds that prioritize long-term investment over short-term returns, which is crucial for supporting the uncertain nature of innovative tech ventures [2] - The government aims to facilitate the establishment of various national-level funds in Beijing to enhance investment in the tech sector [2][3] Group 3: Goal Two - Enhancing Credit Support - By the end of 2027, the plan sets a target for the balance of technology loans and loans to tech enterprises to exceed 5.5 trillion yuan and 2.5 trillion yuan, respectively, with annual growth rates surpassing national and city averages [4] - A new evaluation model called "Zhongguancun Leading Score" will be introduced to assess tech companies based on various indicators, which will help improve their access to credit [4] - As of August, Beijing's technology loan balance stood at 4.2 trillion yuan, with an average interest rate of 2.45%, significantly lower than the general loan rate [4][5] Group 4: Goal Three - Supporting Innovative Financing Mechanisms - The plan aims to promote the issuance of technology innovation bonds, technology insurance, and REITs, positioning Beijing as a leader in these areas by 2027 [7] - The government will support quality tech companies in going public to diversify their financing channels, with 277 companies listed on the Beijing Stock Exchange as of September [7] - Insurance products tailored for tech SMEs will be developed to mitigate risks associated with innovation, including property loss and R&D failures [7][8]

Core Insights - The insurance industry plays a crucial role in economic development and improving social welfare, with total assets exceeding 40 trillion yuan and cumulative payouts reaching 9 trillion yuan, marking a 61.7% increase compared to the "13th Five-Year Plan" period [1] - During the "14th Five-Year Plan" period, the insurance sector has focused on high-quality development, enhancing its comprehensive strength and achieving new breakthroughs in serving the real economy and social welfare [1][3] Group 1: Economic Impact - The insurance industry has provided risk protection across various sectors, contributing to national strategies and addressing weak links in the economy [1] - Cumulative risk protection provided by the insurance industry during the "14th Five-Year Plan" period has exceeded 10 trillion yuan, supporting over 3,600 innovation application projects [2] Group 2: Technological Innovation - China Life Insurance has developed over 200 technology insurance products, providing risk protection exceeding 4 trillion yuan since the establishment of the integrated circuit co-insurance system [2] - The insurance sector has supported significant projects such as the Long March 8 remote sensing satellite and the domestically produced C919 large passenger aircraft, with over 300 billion yuan in coverage [2] Group 3: Social Welfare - The insurance industry has expanded its capacity to improve and guarantee social welfare, with major projects covering over 12.2 billion urban and rural residents for critical illness insurance and 1.8 billion people for long-term care insurance [3] - Commercial health insurance has provided economic compensation of 1.8 trillion yuan to those affected by illnesses over the past five years [3] Group 4: Disaster Risk Management - The insurance industry has established a national disaster risk map and a digital risk warning network, with cumulative payouts exceeding 150 billion yuan for disasters such as floods and earthquakes during the "14th Five-Year Plan" period [4] - From 2024, catastrophe insurance will cover common natural disasters in China, with a minimum coverage amount doubled, providing 22.36 trillion yuan in catastrophe risk protection for 64.39 million households [4] Group 5: Comprehensive Insurance Services - The insurance sector has formed a comprehensive insurance service system focusing on risks related to aging, illness, disasters, and poverty, optimizing the allocation of risk resources across society [5]

Core Insights - The "Shanghai Technology Finance Ecological Annual Observation 2024" report indicates a stabilization trend in Shanghai's technology finance ecological index from 2019 to 2024, with a slight decline in both the index and growth rate compared to 2023 [1] Group 1: Technology Financing - The loan balance for technology enterprises in Shanghai is approaching 1.3 trillion yuan [1] - The Shanghai Technology Entrepreneurship Center's technology credit products achieved a cumulative completion of 6.668 billion yuan in 2024, indicating an ongoing optimization of indirect financing structures [1] Group 2: Technology Insurance - The "2024 Shanghai Technology Insurance Work Key Points" has been issued, with ongoing advancements in the construction of the Lingang New Area as a technology insurance innovation leading zone [1] - The first edition of the "Shanghai Technology Insurance Product Catalog" has been released, showcasing the gradual improvement of technology insurance mechanisms and products [1] Group 3: Equity Investment - In 2024, both the number and scale of equity investments in Shanghai have shown a certain degree of decline, with investment scale ranking second nationally, only behind Beijing [1] - The equity investment market continues to experience a downturn, reflecting a challenging environment for investments [1] Group 4: Initial Public Offerings (IPOs) - In 2024, a total of 18 companies from Shanghai went public in domestic and overseas markets, with over half being hard technology companies [1] - Among these, 4 companies were listed on the Sci-Tech Innovation Board, accounting for 22.2% of the total, highlighting the strong focus on supporting technology innovation through direct financing [1]

Group 1 - Shenzhen insurance industry is focusing on enhancing technology finance, with technology insurance expected to achieve premium income of 1.88 billion by June 2025, providing risk protection of nearly 3.12 trillion [1][2] - The Shenzhen Financial Regulatory Bureau has optimized the intellectual property financial ecosystem, issuing two lists of 81 specialized insurance products and 103 intellectual property financial products [1][2] - A total of 399 technology insurance products have been filed in the region, with 86 new products added this year, highlighting innovations in intellectual property insurance, low-altitude economy insurance, and robot insurance [2] Group 2 - The regulatory body has guided the industry in publishing the first national model clauses for unmanned aerial vehicle third-party liability insurance and has established the first national drone insurance service standards [2] - In the first half of 2025, eight cross-border medical insurance products were filed, providing risk protection exceeding 3.02 billion for Greater Bay Area residents [2] - The implementation of cross-border car insurance policies has been optimized, and a cross-border data verification platform is being upgraded to facilitate smoother data exchange between Shenzhen and Hong Kong [2]

Core Insights - The meeting held on May 15 emphasized the importance of integrating technology and finance to drive innovation and industrial upgrades in China [1] - Financial institutions are increasingly collaborating with technology sectors to enhance the diversity and strength of technology financial services [2] - Various financial institutions reported significant achievements in supporting technology innovation through different financial instruments [3][4] Group 1: Meeting Highlights - The meeting was attended by key officials from the People's Bank of China, Ministry of Science and Technology, and other regulatory bodies, focusing on the role of financial support in building a strong technological nation [1] - Financial management and technology departments are urged to deepen the integration of finance, technology, and industry to provide robust financial support for high-level technological self-reliance [1] Group 2: Financial Institutions' Contributions - Industrial and Commercial Bank of China reported a technology loan balance of nearly 5.5 trillion yuan, with new loans amounting to 537.6 billion yuan in the first quarter, leading the industry [2] - CITIC Securities highlighted its leading position in the market with 29 equity financing projects and a total underwriting scale of 28.5 billion yuan in 2024 [3] - People’s Insurance Group shared its comprehensive insurance service system for technology finance, investing approximately 52 billion yuan in technology innovation [4] Group 3: Support for Technology Innovation Bonds - Following the announcement of technology innovation bonds on May 7, various financial institutions actively participated in the issuance, with China Bank leading with 3.85 billion yuan in the first day [5] - CITIC Securities initiated a bond issuance of up to 2 billion yuan, adhering to the requirement that at least 70% of the funds be directed towards technology innovation [5] - People’s Insurance Group participated in the subscription of technology innovation bonds, with a total subscription amount exceeding 5 billion yuan [5] Group 4: Market Response to Technology Innovation Bonds - The introduction of technology innovation bonds is expected to alleviate funding shortages in the domestic venture capital market, which has historically faced challenges [6] - The bond financing mechanism aims to provide stable, long-term capital for early-stage investments in hard technology [6] Group 5: Case Study of Financial Support - A high-tech company, Moer Thread, received significant financial support from a consortium of banks coordinated by the People's Bank of China, alleviating funding pressures for its chip development [7]