The People's Bank of China, the Ministry of Science and Technology, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission jointly hold a conference to promote the exchange and advancement of fintech work

The People’s Bank of China, the Ministry of Science and Technology, the China Financial Regulatory Administration, and the China Securities Regulatory Commission jointly held an exchange and coordination meeting on technological finance work. The meeting noted that the Fourth Plenary Session of the 20th CPC Central Committee, the Central Economic Work Conference, and the “Fifteen-Five” Plan outline uphold the strategic core position of scientific and technological innovation in national development, clearly set the strategic goal of accelerating high-level technological self-reliance and self-improvement, optimize and adjust the regional layout of international science and technology innovation centers, and put forward clear requirements for building a technological finance system that aligns with technological innovation. Relevant departments and institutions should earnestly study, implement, and carry out the decisions and deployments of the CPC Central Committee and the State Council, further deepen supply-side structural reform of financial services, improve a diversified financial services system, support international science and technology innovation centers in optimizing their technological finance ecosystem, and continuously enhance the adaptability of financial service supply to the needs of technological innovation. The meeting emphasized that the “Fifteen-Five” period is a critical phase for building a country strong in science and technology, and technological finance should provide higher-quality services for the goal of building a country strong in science and technology. Relevant departments and institutions should pool efforts to build momentum, continuously improve the work mechanisms for technological finance, and solidly advance key tasks throughout the year. They should further strengthen coordinated and interactive efforts among relevant departments, local governments, and financial institutions, expand information sharing, accelerate the development of a technology elements market, and improve the efficiency of allocating financial resources. They should enhance professional capabilities in technological finance services and enrich financial products that are tailored to the characteristics of high-tech fields. They should give full play to the policy roles of science and technology innovation and re-lending for technological transformation, the equity investment pilot program of financial asset investment companies, merger and acquisition loans, and the bond market’s “Science and Technology Board,” so as to drive financial resources to be allocated more precisely to the field of technological innovation. (People’s Bank of China)