Core Viewpoint - The article discusses the recently released "Guiding Opinions on Financial Support for New-Type Industrialization," which outlines a clear path for financial support to enhance industrialization in China, focusing on optimizing funding structures and improving financial services across various sectors [1][2]. Financial Support for New-Type Industrialization - The guiding opinions emphasize the need for a comprehensive, differentiated, and specialized financial service system to support new-type industrialization, including loans, bonds, and equity financing [1]. - Key areas of focus include enhancing technological financial services, optimizing supply chain finance, promoting green finance, and advancing digital finance to support industrial transformation [1][2]. Overall Goals - By 2027, the financial system supporting the high-end, intelligent, and green development of the manufacturing industry is expected to be fundamentally mature, with a richer product offering and improved service adaptability [2]. Specific Measures - The opinions propose 18 specific measures across five main areas, including enhancing technological innovation capabilities, improving supply chain resilience, and strengthening financial support capabilities [4]. - Notable measures include the implementation of a "Technology-Industry Financial Integration" initiative and the exploration of a "de-nuclear" service model for supply chain finance [4][5]. Enhancing Financial Services - Financial institutions are encouraged to improve their internal mechanisms and develop differentiated credit policies tailored to specific industries and growth stages [8]. - The article highlights the importance of collaboration between financial institutions and industry sectors to enhance service capabilities and talent development [8][10]. Cross-Border Financial Services - The opinions call for improved cross-border financial services, including facilitating cross-border trade settlements and expanding the use of RMB in international transactions [6][10]. Long-Term Mechanisms - The article stresses the need for establishing long-term mechanisms to support new-type industrialization, including enhancing cooperation among various financial entities and improving the overall financial service environment [10].

Core Viewpoint - The People's Bank of China, along with several government departments, has issued guidelines to support the new type of industrialization through financial means, aiming to enhance the competitiveness of the manufacturing sector and promote its transformation towards high-end, intelligent, and green development [1][2][9] Financial Support for Industrialization - The guidelines aim for a mature financial system by 2027 that supports the high-end, intelligent, and green development of the manufacturing industry, with a focus on increasing the number and scale of bond issuances and equity financing [1][2] - Emphasis is placed on market-oriented and legal principles, with a focus on preventing excessive competition while promoting industrial upgrades [1][2] Enhancing Technological Innovation and Supply Chain Resilience - The guidelines prioritize enhancing technological innovation capabilities and supply chain resilience, proposing specific measures for key industries such as integrated circuits and medical equipment [2][3] - A "technology-industry-finance integration" plan is introduced to guide social capital towards early-stage hard technology projects [2] Supporting Traditional Industry Upgrades - Financial institutions are encouraged to optimize credit policies to support the transformation of traditional manufacturing industries towards high-end, intelligent, and green development [4] - The guidelines advocate for diverse financial support for digital transformation, particularly for small and medium-sized enterprises [4] Green and Low-Carbon Transition - The guidelines highlight the importance of establishing a financial standard system to support the green and low-carbon transition of high-carbon industries, promoting green credit and green bonds [5] - Financial institutions are encouraged to utilize technologies like big data and AI to enhance service efficiency in the digital economy [5][6] Policy Coordination and Implementation Assurance - The guidelines call for improved financial services for industrial transfers and enhanced cross-border financial service convenience [7][8] - A cross-departmental coordination mechanism is proposed to ensure effective implementation of the guidelines, with a focus on risk prevention and monitoring [8] Long-term Financial Mechanism Development - The implementation of the guidelines is expected to create a batch of internationally competitive manufacturing enterprises, facilitating China's transition from a manufacturing giant to a manufacturing power [9] - A market-oriented long-term mechanism is needed to enhance the interaction between finance and industry, ensuring that market forces play a decisive role in resource allocation [9]

Core Viewpoint - The People's Bank of China and six other departments have issued guidelines to enhance financial support for new industrialization, focusing on creating a comprehensive, differentiated, and specialized financial service system to meet industrial demands [1][2]. Financial Support Structure - The guidelines emphasize optimizing the funding supply structure at the macro level, providing loans, bonds, and equity financing for new industrialization [1]. - A robust technology finance service system will be established to support core technology breakthroughs, the development of emerging industries, and the upgrading of traditional industries [1][4]. - Supply chain finance and regional trade finance will be optimized to support key industrial chains and advanced manufacturing clusters [1][5]. - Green finance and transition finance will be promoted to support the green and low-carbon transformation of traditional industries and the development of new energy industries [1][5]. - Digital finance will be developed to support the digital transformation of industries and the construction of digital infrastructure [1][5]. Overall Goals - By 2027, the financial system supporting the high-end, intelligent, and green development of manufacturing will be basically mature, with a rich array of financial products and enhanced service adaptability [2]. - The number and scale of bond issuances by manufacturing enterprises will continue to grow, and equity financing levels will significantly improve [2]. Key Measures - The guidelines propose 18 specific measures across five key areas, including enhancing industrial technology innovation capabilities and supply chain resilience [3]. - A "technology-industry finance integration" initiative will be implemented to facilitate capital flow into hard technology sectors [3][4]. - A "de-nuclear" service model for supply chain finance will be explored, allowing specialized enterprises to obtain credit based on real transaction data [3][5]. Financial Policy Tools - The guidelines call for optimizing financial policy tools to support key technology and product breakthroughs, particularly in critical manufacturing sectors [4]. - Long-term capital and patient capital will be introduced to accelerate the transformation of technological achievements [4]. Strengthening Financial Services - Financial institutions are encouraged to provide comprehensive financial services to key enterprises in industrial chains, particularly those affected by external factors [5]. - Cross-border financial services will be enhanced to support international trade and investment [5][6]. Long-term Mechanism Construction - The guidelines focus on strengthening financial service capabilities and establishing long-term mechanisms to maintain reasonable investment levels in manufacturing [6]. - Financial institutions are urged to develop differentiated credit policies based on industry characteristics and enterprise growth stages [6][7]. Talent Development and Collaboration - The guidelines emphasize the need for cultivating a talent pool with expertise in technology and finance, encouraging collaboration between financial institutions and industry sectors [7]. - A mechanism for inter-departmental collaboration and policy alignment will be established to enhance the effectiveness of financial support for new industrialization [7].

Core Viewpoint - The People's Bank of China and seven other departments have issued guidelines to enhance financial support for new industrialization, focusing on a comprehensive, differentiated, and specialized financial service system to meet industrial demands [1][2]. Financial Support Structure - The guidelines emphasize optimizing the funding supply structure, providing loans, bonds, and equity financing for new industrialization [1]. - A robust technology finance service system will be established to support core technology breakthroughs and the development of emerging industries [1][4]. - Supply chain finance and regional trade finance will be optimized to support key industrial chains and advanced manufacturing clusters [1][5]. - Green finance and transition finance will be promoted to support the green and low-carbon transformation of traditional industries [1][5]. - Digital finance will be developed to facilitate the digital transformation of industries and the construction of digital infrastructure [1]. Overall Goals - By 2027, the financial system supporting the high-end, intelligent, and green development of manufacturing is expected to be mature, with a rich array of financial products and a significant increase in the number and scale of bond issuances by manufacturing enterprises [2][3]. Key Measures - The guidelines propose 18 specific measures across five areas, including enhancing industrial technology innovation capabilities and improving supply chain resilience [3]. - A "technology-industry finance integration" initiative will be implemented to facilitate capital flow into hard technology sectors [3][4]. - A "de-nuclear" service model for supply chain finance will be explored to enable specialized enterprises to obtain credit based on real transaction data [3][5]. Financial Tools and Services - Financial policies will be optimized to support key technology and product breakthroughs, with structural monetary policy tools guiding banks to provide long-term financing for critical manufacturing sectors [4]. - Financial institutions will be encouraged to offer comprehensive financial services to key enterprises in industrial chains, particularly those affected by external factors [5]. - Cross-border financial services will be enhanced to support international trade and investment, including expanding the use of RMB in cross-border transactions [5][6]. Long-term Mechanism Construction - The guidelines focus on strengthening financial service capabilities and establishing long-term mechanisms to maintain reasonable investment levels in manufacturing [6]. - Financial institutions are encouraged to develop differentiated credit policies based on industry characteristics and enterprise growth stages [6][7]. - A collaborative mechanism between financial and industrial policies will be established to enhance the effectiveness of financial support for new industrialization [7].

Core Viewpoint - The People's Bank of China and six other departments issued guidelines to enhance financial support for new industrialization, focusing on improving financial services for key enterprises and ensuring the resilience of industrial supply chains [1][2]. Group 1: Financial Support for Manufacturing - By 2027, a mature financial system supporting the high-end, intelligent, and green development of manufacturing will be established, with a focus on diverse financial products and effective risk prevention [2]. - The guidelines emphasize optimizing financial policy tools to support key technologies and products, particularly in sectors like integrated circuits and advanced materials, through long-term financing [2][3]. Group 2: Modern Industrial System Construction - The guidelines outline five areas for building a modern industrial system, including enhancing financial services for traditional manufacturing, supporting emerging industries, promoting green finance, and integrating digital finance with the real economy [3]. - Support for listed companies in industry consolidation and upgrading through various financial mechanisms is encouraged, alongside the expansion of technology loan offerings [3][4]. Group 3: Regional and Specialized Financial Services - Financial services will be tailored to support the flexible relocation of industries and the development of regional industrial clusters, particularly in central and northeastern China [4]. - The guidelines advocate for local banks to develop loan products that align with regional industrial characteristics, enhancing service specialization [4]. Group 4: Capacity Building and Talent Development - The guidelines stress the importance of building a capable financial support system for new industrialization, including improving internal mechanisms within financial institutions to serve the manufacturing sector [5]. - There is a call for cultivating a workforce with expertise in advanced manufacturing and related technologies to create a composite financial management and service team [5]. Group 5: Policy Coordination - Strengthening the coordination between financial policies and industrial policies is highlighted, with an emphasis on establishing mechanisms for risk prevention and policy incentives [5][6]. - The People's Bank of China and the Ministry of Industry and Information Technology will work together to implement these guidelines effectively [5].

Core Viewpoint - The document outlines a series of financial policy measures aimed at supporting new industrialization, emphasizing the need for optimized funding structures and enhanced financial services for key industries and technological innovation [1][2][3]. Group 1: Financial Support for Key Technologies - The document highlights the importance of optimizing the funding supply structure to provide loans, bonds, and equity financing for new industrialization [1]. - It emphasizes the need for a comprehensive financial service system to support core technology breakthroughs, the development of emerging industries, and the transformation of traditional industries [1][2]. - Specific measures include the introduction of long-term capital and patient capital to accelerate the transformation of technological achievements [2]. Group 2: Strengthening Financial Services for Key Enterprises - Financial institutions are encouraged to use diverse tools such as loans, bonds, equity, and insurance to provide comprehensive financial services to key enterprises in the industrial chain [2][3]. - The document calls for the development of a financial service model based on "data credit" and "material credit" to enhance the flexibility of financial services for industrial transfers [3]. - It also stresses the importance of supporting listed companies in industry consolidation through various financial mechanisms [3]. Group 3: Coordination of Financial and Industrial Policies - The document emphasizes the need for a coordinated approach between financial policies and industrial policies to enhance support for new industrialization [4][5]. - It calls for the establishment of internal mechanisms within financial institutions to better serve the manufacturing sector and to adjust operational directions based on national development needs [4]. - The document advocates for the cultivation of a talent pool skilled in technology and industrial finance to improve service capabilities [5].

Core Viewpoint - The People's Bank of China and several government agencies have issued guidelines to support the financial system's development for new industrialization by 2027, focusing on enhancing the manufacturing sector's high-end, intelligent, and green development [1][2]. Group 1: Financial Support for Manufacturing - By 2027, the financial system supporting the manufacturing sector is expected to be mature, with a diverse range of financial products and tools effectively meeting the credit needs of manufacturing enterprises [1]. - The guidelines emphasize the importance of integrating various financial instruments such as loans, bonds, equity, and insurance to enhance service adaptability while preventing cross-financial risks [1]. Group 2: Optimizing Financial Policies - The guidelines propose optimizing financial policy tools to support key technologies and products, particularly in sectors like integrated circuits, medical equipment, and advanced materials, by providing long-term financing [1][2]. - Financial institutions are encouraged to collaborate with technology intermediaries to explore diverse financing service models, thereby revitalizing R&D resources and outcomes [2]. Group 3: Strengthening Financial Services for Key Enterprises - The guidelines aim to enhance financial services for key enterprises in the industrial chain, promoting self-sufficiency and stability in operations, especially for those affected by external factors [2]. - Support for mergers and acquisitions is highlighted, with a focus on investments that enhance the industrial chain's coherence and resilience [2].

Core Viewpoint - The article emphasizes the importance of financial support for new industrialization in China, aiming to enhance the financial system to better serve the manufacturing sector and promote high-quality economic development by 2027 [1][5][6]. Group 1: Overall Requirements - The guidance is rooted in Xi Jinping's thought and aims to align with the spirit of the 20th National Congress, focusing on financial services for the real economy and risk prevention [6]. - By 2027, a mature financial system supporting high-end, intelligent, and green development in manufacturing is expected, with improved service adaptability [6]. Group 2: Support for Technological Innovation and Supply Chain Resilience - Financial policies will be optimized to support key technologies and products, encouraging long-term financing for critical industries [7]. - The introduction of patient capital and diverse financing services will accelerate the transformation of technological achievements [8]. - Comprehensive financial services will be provided to key enterprises in the supply chain, promoting self-sufficiency and stability [9]. Group 3: Modern Industrial System Construction - Traditional manufacturing financial services will be optimized to support transformation and upgrading, focusing on high-end, intelligent, and green development [10]. - New industries will be nurtured through enhanced financial services, with a focus on emerging sectors like information technology and renewable energy [11]. Group 4: Green Finance and Digital Economy - Green finance will play a crucial role in supporting low-carbon and circular development in industries, with a focus on creating a financial standard system [12]. - Digital finance will enhance the integration of the digital economy with the real economy, improving efficiency for manufacturing, especially for SMEs [13]. Group 5: Financial Policy and Industry Policy Coordination - Strengthening the collaboration between financial and industrial policies is essential for effective implementation of the guidance [20]. - Local governments are encouraged to establish mechanisms for project financing support, addressing issues like information asymmetry [22]. Group 6: Risk Prevention and Management - A joint risk assessment and early warning mechanism will be established to monitor financial and industrial risks, ensuring compliance with national policies [18][21].

据悉，该基金资产按组合分布如下：57%债券，17.1%股权，14.1%货币市场工具， 5.2%房地产，3.3%贷款，1.9%旅游投资。 约旦社会保障投资基金总资产173亿约第。据社会保障投资基金（SSIF）发布的声 明，今年上半年，该基金总资产173亿约第，较2024年底增长了7.2%。该增长主要得益 于综合收益的增加以及社会保障公司的保险盈余转移。 （原标题：约旦社会保障投资基金总资产173亿约第） ...

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