East China’s Jiangsu province has released the "Opinions on Strengthening and Optimizing the Supply of Science and Technology Innovation Financial Services for Technology Independence and Self strengthening", according to a press conference held by the provincial government on Thursday.
Jiangsu will highlight the precise development of the financial supply side under the guidance of the demand for technological innovation.
Among the organizations and institutions that briefed the press conference were the People's Bank of China Nanjing Branch, Provincial Development and Reform Commission, Provincial Department of Science and Technology, Provincial Department of Finance, Provincial Local Financial Supervision Bureau, Provincial Intellectual Property Office, and Jiangsu Securities Regulatory Bureau.
Jiangsu will take the lead in the country in building a demonstration zone for the deep integration of "technology industry finance" . In about three years, Jiangsu will achieve the goals of a sound organizational system for scientific and technological innovation finance, more diversified financial products and services, steadily expanding the scale of direct financing, and more active use of intellectual property rights.
Jiangsu will also promote the development of financial institutions that integrate science and innovation, increase credit investment in the field of science and innovation, promote innovation in science and innovation financial products and services, and smooth direct financing channels for technology-based enterprises so as to solve the gap between supply and demand and information asymmetry in science and innovation finance.
“We will guide banking institutions to increase the investment of intellectual property pledge financing and credit loans for technology-based SMEs, play the role of the provincial financial inclusive development risk compensation fund in enhancing the credit of technology-based enterprise financing and intellectual property pledge financing, encourage banking institutions to innovate and develop credit products, and explore new business models such as "loan+external direct investment"”, Wang Hailong, Vice President of Nanjing Branch of the People's Bank of China, said.
By the end of 2025, Jiangsu will strive to ensure that the balance and new additions of technology loans rank among the top in the country. The number of science and technology innovation companies listed on the Science and Technology Innovation Board, ChiNext, and Beijing Stock Exchange will significantly increase, and the scale of venture capital management funds will steadily expand. The province will also basically build a financial support technology innovation ecosystem with smooth policy coordination, complete support system, complete guarantee mechanism, and regional characteristics.
