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E-mail China.org.cn, January 3, 2025
Economic Daily:
Deepening industry-finance cooperation is an important measure to boost the real economy through financial services. Could you introduce more details about the progress and results of China's industry-finance cooperation? What are the next steps? Thank you.
Tao Qing:
Thank you for your questions. All relevant departments and financial institutions adhere to the fundamental purpose of serving the real economy with financial services, innovatively and carry out integrated cooperation between industry and finance. We will prioritize financing support for the implementation of major national strategies, security capacity building in key areas, large-scale equipment renewals, and trade-ins of consumer goods. We will also implement technological innovation and technological transformation re-loans, optimize policies for loan renewals without principal repayment and strongly support the improvement of industrial modernization.
First, the national industry-finance cooperation platform has helped enterprises raise more than one trillion yuan. The platform offers customized, intelligent financial services and has established 24 special zones, such as areas for industrial transfer and advanced manufacturing clusters. It brings together 345,800 high-quality enterprises, 2,965 financial institutions and 741 financial products, contributing approximately 1.0018 trillion yuan in business financing. Since the beginning of this year, an additional 290 billion yuan has been raised, marking a year-on-year growth rate of 40.7%. Second, the special project of "Integration of Science, Technology, Industry, and Finance" promotes the transformation and industrialization of scientific and technological achievements. We have joined with more than 150 leading financial institutions in establishing a promotion and alignment platform for 260 projects in fields such as new generation information technology, equipment manufacturing, aerospace information, artificial intelligence and biomedicine. The amount of equity financing has exceeded 10 billion yuan and nearly 20% of the enterprises' valuation has doubled, indicating that they are actively preparing for initial public offerings (IPOs). Third, we work together with financial institutions to support new industrialization. The financial institutions that cooperate with us cover various types such as banks, insurance companies and funds. In response to the financing needs of manufacturing enterprises, we have innovatively launched a number of special financial products. These include special loans for enterprises that use specialized and sophisticated technologies to produce novel and unique products, conversion loans for scientific and technological achievements, loans for industrial digital transformation as well as a variety of financial combination models such as "pilot insurance + R&D loan." We have established 17 regional equity markets with specialized boards for enterprises that use specialized and sophisticated technologies to produce novel and unique products. We have conducted the "one chain, one policy, one batch" initiative to promote financing for micro, small, and medium-sized enterprises (MSME) as well as have expanded the coverage of inclusive finance. At the same time, we organized the "one month, one industrial chain" investment and financing promotion campaign for small and medium-sized enterprises (SMEs) that use specialized and sophisticated technologies to produce novel and unique products. This has facilitated the intentional financing of more than 100 billion yuan.
Next, we will continue deepening the cooperation between industry and finance. First, we will expedite the formulation and issuance of policy documents supporting new industrialization through finance. Focusing on key directions and fields of new industrialization, we will increase support through technological finance, digital finance, cross-border finance and policy-based financing. This will guide more financial resources toward promoting technological innovation, advanced manufacturing, green development and micro, small, and medium-sized enterprises (MSMEs). We will promote the innovative application of digital technology in the financial field and increase digital empowerment. Second, we will actively leverage the connecting and consolidating effects of the national industry-finance cooperation platform. We will strengthen cross-departmental enterprise information sharing mechanisms, optimize platform functionality and continuously expand the platform's capacity to provide public services to enterprises. Third, we will thoroughly implement the "Integration of Science, Technology, Industry, and Finance" initiative. We will fully utilize the "green channel" mechanism for sci-tech companies' IPOs, mergers and acquisitions, and bond issuances, guiding social capital to provide sustainable, multi-channel funding for key sectors and critical areas. Working with relevant departments, we will expedite the establishment of the third batch of specialized boards for enterprises that use specialized and sophisticated technologies to produce novel and unique products in regional equity markets. We will also optimize the nationwide "one month, one industrial chain" financing promotion campaign to help small and medium-sized enterprises (SMEs) achieve more precise industry-finance alignment. Thank you.
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