Share
Copied
A staff works in a tech company manufacturing plant in southeast China's Fujian Province, July 26, 2023. /CFP
Chinese authorities have made a commitment to enhance financial services for technology companies in an effort to boost innovation.
The country will deepen the supply-side structural reform of the financial sector and develop a financial service system that is better suited to the financing needs of various types of technology-based enterprises, said Zhang Qingsong, deputy governor of the People's Bank of China at a press conference on Thursday.
The banking industry has long struggled with how to effectively serve "low mortgage, light asset, high risk" technology innovation enterprises. Traditional evaluation methods often make it difficult for these companies to obtain credit.
To address this issue, the Ministry of Science and Technology, in collaboration with relevant departments and banks, has established a credit evaluation system to assess enterprises in high-tech pilot zones.
Financial institutions use this evaluation data to provide support, resulting in enterprises in the program receiving 117.86 billion yuan ($16.45 billion) in bank credit last year.
According to data from the central bank, technology-based enterprises have experienced significant loan expansion in the first half of this year. Outstanding loans for businesses in the high-tech manufacturing industry reached 2.5 trillion yuan, a year-on-year increase of 41.5 percent.
Chinese authorities have promised to further improve relevant policies to ensure that more financial resources are invested in the real economy and in fields related to innovation.
Search Trends
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466