As an important engine for promoting technological innovation, technology finance is one of the "Five Major Articles" proposed by the Central Financial Work Conference. Recently, Li Yunze, Secretary of the Party Committee and Director of the State Administration of Financial Supervision and Administration, stated that doing a good job in the "five major articles" is an important mission that the financial industry cannot shirk. Banks and insurance institutions should base themselves on their responsibilities, explore new paths and models for new quality and productivity of financial services, develop adaptable financial products, improve the level of financial services, and fully support technological innovation, green development, emerging industries, and future industries. What are the current difficulties faced by financial service innovation enterprises? How to guide financial support for the development of science and technology innovation enterprises? Since the beginning of this year, the State Administration of Financial Supervision and Administration, together with relevant departments, has continuously improved policies to support technological innovation in finance, enriched financial support tools, and guided the banking industry to enhance its services to technology-based enterprises. Both credit product innovation and comprehensive financial service models aim to enhance the targeted effectiveness of financial services for science and technology innovation enterprises. In order to solidly do a good job in science and technology finance and promote the banking industry to increase the financial supply and services of technology-based enterprises, the People's Bank of China, the State Administration of Financial Regulation and other departments recently jointly issued the "Work Plan on Solidly Doing a Good Job in Science and Technology Finance", proposing a series of targeted work measures around cultivating a financial market ecosystem that supports technological innovation. In addition, in May of this year, the State Administration for Financial Regulation issued the "Guiding Opinions on the 'Five Major Articles' of Banking and Insurance Industry to Do a Good Job in Finance", proposing that in the next five years, a multi-level, widely covered, diversified, and sustainable' Five Major Articles' service system for the banking and insurance industry will be basically formed, with more complete related work mechanisms and richer products. In January of this year, the State Administration for Financial Regulation issued a notice on strengthening the full life cycle financial services for technology-based enterprises, guiding banking institutions to allocate more financial resources to promote technological innovation and continuously improve the quality and efficiency of financial support for technology-based enterprises. According to Ye Yindan, a researcher at the Bank of China Research Institute, a series of financial regulatory policies, such as tax incentives and financing docking measures, have provided a favorable policy environment for financing for science and technology innovation enterprises. This will help attract more financial resources to invest in the field of technology innovation, enhance the accuracy and sustainability of financial support, and accelerate the transformation of scientific and technological achievements and the process of science and technology innovation industry. Financial regulatory authorities and banking institutions are deepening the supply side structural reform of finance, effectively implementing and refining the "five major articles", and improving the quality and level of financial services to the real economy. The statistical report on the loan allocation of financial institutions in the first quarter of 2024 shows that there is a significant amount of loan support for science and technology innovation enterprises. At the end of the first quarter of 2024, 217300 technology-based small and medium-sized enterprises received loan support, with a loan acquisition rate of 47.9%, which was 1.1 percentage points higher than the end of the previous year. The balance of domestic and foreign currency loans for technology-based small and medium-sized enterprises was 2.7 trillion yuan, a year-on-year increase of 20.4%, which was 11.2 percentage points higher than the growth rate of various loans during the same period. Chen Hao, Senior Researcher in Financial Regulation at Xingye Research Company, stated that for financial institutions themselves, in the context of China's economic growth shift, the banking industry urgently needs to find a "reservoir" for future asset investment. As a key area of national policy support, the field of technological innovation requires large-scale financing support. In this context, banks and other financial institutions have effectively expanded financing for technology enterprises and injected a large amount of funds into the field of technological innovation, which not only conforms to national policy guidance, but also solves the problems of interest margin pressure faced by financial institutions, becoming an important driving force for China's future technological innovation. Targeting the pain points of financing and developing technology finance is not an easy task, as some small and medium-sized micro tech startups often face difficulties in financing and high financing costs. The mismatch between the traditional loan repayment and interest payment model of banks and the financing preferences of science and technology innovation enterprises often leads to financing difficulties for these enterprises. Chen Hao stated that from the perspective of traditional credit approval and loan disbursement models, for start-up enterprises lacking financial and credit records, banks often require the enterprise to provide collateral or be guaranteed by other entities. However, for "light asset" science and technology innovation enterprises, they often lack commonly accepted real estate collateral by banks. As a result, traditional bank credit and loan models that focus on collateral, guarantees, credit records, and financial records are difficult to fit the actual situation of science and technology innovation enterprises. From the analysis of the characteristics of science and technology innovation enterprises themselves, Ye Yindan stated that they face high technological and market risks, and financial institutions face challenges in risk identification and management. This makes banks and insurance companies more cautious in providing financing, limiting the financing channels and amounts for science and technology innovation enterprises. Science and technology innovation enterprises often rely on a limited number of traditional financial products for financing, resulting in a single financing structure that is difficult to meet short-term financing needs. Experts say that from the perspective of solving financing pain points in multiple regions, in recent years, under the guidance of regulatory authorities, banking institutions have adopted various methods to solve the financing pain points of scientific and technological innovation enterprises, especially to break the information asymmetry problem between banks and enterprises. In Nanning, Guangxi, in order to better support the development of science and technology innovation enterprises, local banking institutions and tax departments deepen data sharing, help science and technology innovation enterprises quickly obtain financing from banking institutions based on tax credit, and achieve efficient linkage between tax banks and enterprises. Thanks to the data sharing on the 'Bank Tax Interaction' platform, Guilin Bank Nanning Branch promptly granted us a credit loan of 2.5 million yuan, effectively alleviating the pressure of scientific research funds, "said Su Jingyuan, the financial manager of Guangxi Xiangteng Information Technology Co., Ltd. In recent years, Guilin Bank Nanning Branch has launched a series of science and technology innovation credit products such as credit loans and intellectual property pledge, accurately removing the obstacles of lack of collateral assets on the financing path of science and technology innovation small and micro enterprises, and comprehensively enhancing the value of financial services for science and technology innovation enterprises. Ye Yindan stated that it is necessary to enhance information sharing and transparency between banking institutions and science and technology innovation enterprises, which will help banking institutions accurately evaluate the credit and innovation capabilities of science and technology innovation enterprises, and provide a basis for providing personalized financial products in the future. At present, China is accelerating the establishment of information sharing platforms, such as the national integrated financing credit service platform, which can strengthen the collection and sharing of information on water, electricity, social security, housing provident fund, etc., thereby reducing information asymmetry and improving financing efficiency; For banks, they should also accelerate the innovation of financial products and services, and provide financial support to science and technology innovation enterprises through various means such as credit, equity, and bond underwriting. Refining the power of diversified service credit to nurture the growth of science and technology innovation enterprises is not a one-time deal. In recent years, banking institutions have continuously explored new paths for financial support to science and technology innovation, gradually forming full lifecycle financial services for technology-based enterprises, that is, building a full lifecycle financial support system covering technology-based enterprises from start-up to maturity, and achieving effective docking between financial resources and technology needs. Industry insiders suggest that measures to empower science and technology innovation through finance cannot remain unchanged, but should be segmented based on the different growth stages of enterprises. The relevant person in charge of Longgang Rural Commercial Bank under the jurisdiction of Zhejiang Rural Commercial United Bank stated that the bank actively implements financial regulatory policies and plays a "combination punch" in providing financial services to scientific and technological innovation enterprises. One is to adopt a differentiated business strategy of "one enterprise, one policy" to create exclusive financial service solutions for small and micro enterprises in the start-up and growth stages. The second is to create diversified credit products, accelerate the disbursement of loans such as science and technology innovation index and intellectual property pledge, and provide credit support for science and technology innovation small and micro enterprises. The third is to incorporate small and micro enterprises in science and technology innovation into grid services, adopting a full-time team and dedicated personnel model to conduct regular visits and docking, helping science and technology innovation enterprises "understand and use finance". It is worth noting that financial services innovation also relies on a favorable financing development environment. The reporter learned that relevant departments and banking institutions in multiple regions have established multidimensional and multi-level financing service systems to promote the two-way integration of technology and finance. In Sichuan Province, the Government Service Management and Administrative Approval Bureau of Xindu District, Chengdu actively builds a government bank enterprise service platform, bridges the gap between enterprises and financial institutions, and promotes the development of science and technology finance to support the local aviation industry chain's scientific and technological innovation enterprises. We are providing overall credit to science and technology innovation enterprises in the Xindu District Aviation Science and Technology Innovation Center. Currently, Chengdu Chengao Technology Co., Ltd., which has settled in the center, has obtained a 'aviation loan' of 2 million yuan. In the future, we will continuously optimize the credit allocation mechanism to better meet the financial needs of science and technology innovation enterprises, "said Wu Xun, Customer Manager of Bank of China Xindu Branch. In Zhejiang Province, Tanghui Street of Jiaxing Economic and Technological Development Zone and Zhejiang Hecheng Rural Commercial Bank have established a "Financial Instructor" mechanism to assist enterprises, providing full process financial services such as financing demand assessment for manufacturing enterprises within their jurisdiction. Since the beginning of this year, the bank has also increased its service to science and technology innovation enterprises by separately listing credit scale, launching "specialized, refined, special and new" enterprise special preferential services, and matching differentiated interest rate pricing. Technology oriented enterprises at different stages have significant differences in their required and adapted financing plans, and banking institutions should explore more measures to serve science and technology innovation. Dong Ximiao, Chief Researcher of Zhaopin, stated that governments at all levels and financial management departments should work together and implement comprehensive policies to create a favorable institutional environment for technology-based enterprises in financial services, promote the healthy development of technology finance, and better prevent technology finance risks. For example, establishing a sound mechanism for enterprises, financial institutions, and government to share responsibilities and losses. Accelerate the introduction of relevant standards, including standards for the recognition of science and technology innovation enterprises, standards for stock warrant business, etc., to create better conditions for financial institutions to serve technology-based enterprises. Optimizing the service mechanism of banks and promoting the precise empowerment of scientific and technological innovation enterprises with credit resources, post loan management is also an indispensable part of providing good technology finance services. Ye Yindan suggested that banks need to establish strict post loan tracking and management mechanisms to monitor the financial status, business activities, and market changes of science and technology innovation enterprises in real time, identify potential risks in a timely manner, and take measures. For technology-based enterprises in the start-up and growth stages, banks should provide financial advisory services to assist enterprises in optimizing the efficiency of fund utilization, achieving a balance between risk and return, and promoting the growth and expansion of technology-based enterprises. (New Society)