By LI Linxu

In its latest move to spur sci-tech innovation, China is stepping up efforts to mobilize financial resources in support of innovation-driven sectors.

▲ A production workshop at an intelligent sensing technology company in Chongqing. (PHOTO: XINHUA)

A dedicated initiative to enhance science and technology financial services has been announced following a joint meeting convened by four government bodies, including the People's Bank of China (PBC) and the Ministry of Science and Technology (MOST).

The campaign will prioritize national key scientific and technological projects and科技型中小企业（SMEs），aiming to improve the quality and efficiency of finance in serving the real economy.

The meeting emphasized building a comprehensive, multi-tiered sci-tech financial service system encompassing credit loans, bonds, equity financing, insurance, venture capital, and financing guarantees.

In recent years, China has implemented a series of policies to strengthen sci-tech financial services, achieving notable progress in supporting technological innovation.

Credit extensions to high-tech manufacturing firms, SRDI enterprises, and tech-focused SMEs have maintained rapid growth. The issuance scale of sci-tech innovation bonds and corporate bonds continues to expand.

Notably, the development of the Science and Technology Innovation Board (STAR), Beijing Stock Exchange (BSE), and ChiNext is accelerating, alongside deeper reforms in the registration-based IPO system.

According to a report by Ernst & Young, STAR and ChiNext ranked among the top in terms of deal volume and fundraising in 2023. BSE listings are expected to become a new trend for high-growth SRDI companies, driven by favorable policies.

In parallel, the PBC and seven other agencies recently released 25 measures to strengthen financial support for private enterprises—especially SMEs and those in high-tech, innovation-driven, green, and low-carbon industries.

The measures aim to facilitate access to diversified financing channels, including credit, bonds, and equity markets.

Jane Yang, Managing Partner at Ernst & Young Beijing Office, advised eligible companies to strategically select listing venues based on their own conditions and market preferences, leveraging both domestic and overseas capital markets.

Editor | SONG Ziyan

Supervisor | TIAN Xueke