Multiple departments releasing signals to increase financial support for technological innovation.

The Tianjin Wudao Financial Forum will be held on June 5, 2025. At this forum, officials from the People's Bank of China, the China Banking and Insurance Regulatory Commission, and the Securities Regulatory Commission will speak out, releasing policy signals of continuing to increase support for financial innovation through technology. Tao Ling, Deputy Governor of the People's Bank of China, introduced that finance, technology, and industry are in a mutually beneficial relationship, and it is necessary to build a science and technology financial system that is compatible with technological innovation. This includes strengthening the construction of bank credit service capabilities, optimizing policies for technology innovation and technological transformation refinancing, establishing a "technology board" in the bond market, enhancing support for the capital market, and improving the science and technology financial ecosystem. Tao Ling proposed expanding the issuance of technology loans, as the average compound growth rate of loans to technology-based small and medium enterprises is over 20% annually, but is still insufficient from the supply side. Financial institutions should allocate more credit resources to technology-based small and medium enterprises to promote the rapid growth of technology loans. In addition, efforts should be made to increase the issuance of initial loans and deepen the construction of technology financial service capabilities. Cheng Hehong, Chief Lawyer of the China Securities Regulatory Commission, stated that the commission will explore the development of more science and technology theme bonds, actively promote eligible enterprises to obtain funds through science and technology bonds, and help reduce the funding costs of technology innovation enterprises.