Stimulating Potential, Financial Empowering and Empowering "Hard Core Science and Technology Innovation"
2023-06-12
The development of technological innovation cannot be separated from the watering of financial vitality, and how to further improve the system and mechanism of financial service technological innovation is also one of the key concerns of industry insiders. Recently, the main leaders of the national financial management department have mentioned increasing efforts to support financing for technology-based enterprises and continuously optimizing the supply of financial products and services around technology breakthroughs during their research in Shanghai. The reporter learned from the 14th Lujiazui Forum held recently that China has established a relatively complete science and technology innovation financial service system. On the one hand, the demonstration effect and industrial agglomeration effect of the capital market, represented by the Science and Technology Innovation Board, supporting scientific and technological innovation are increasingly evident; On the other hand, the banking industry continues to strengthen the supply of science and technology innovation finance, serving science and technology innovation to enter the fast lane. On June 7, Yi Gang, President of the People's Bank of China, went to Shanghai to investigate the financial support for the real economy and the promotion of high-quality development. He pointed out that "more efforts should be made to support financing in key areas such as technology-based enterprises and green development, so as to help high-level science and technology self-reliance, enhance the endogenous growth momentum of the economy, and promote high-quality development." From June 8 to 9, Li Yunze, Secretary of the Party Committee and Director of the State Administration of Financial Supervision, also pointed out that, We should guide financial institutions to constantly optimize the supply of financial products and services around key areas such as tackling key problems in science and technology, improving the quality of urban development, and enhancing the development momentum of Underdevelopment. The reporter also learned that Shanghai is currently accelerating the construction of the Science and Technology Innovation Financial Reform Pilot Zone. In order to further understand the needs of science and technology innovation enterprises, relevant departments are conducting research and visits, actively planning how finance can better serve technology innovation. At the Lujiazui Forum, the Science and Technology Innovation Financial Studio was officially unveiled. In recent years, whether it is direct financing or indirect financing, the support of finance for technology innovation enterprises has continuously upgraded. From the perspective of direct financing in the capital market, establishing the Science and Technology Innovation Board is a key step in enhancing the level of service technology innovation in finance. At present, the Science and Technology Innovation Board has become the preferred listing place for hard technology enterprises in China, and the demonstration effect and industrial agglomeration effect of supporting technological innovation are increasingly evident. As of the end of May, the Science and Technology Innovation Board's IPO financing reached 820 billion yuan, with 96% of enterprises receiving support from venture capital. After the establishment of the Science and Technology Innovation Board, fundraising, investment, management, and retirement were established, resulting in a large number of private equity and venture capital funds willing to invest in science and technology innovation enterprises, with a total investment of 600 billion yuan. Qiu Yong, president of the Shanghai Stock Exchange, said at the Lujiazui Forum that the capital market has a strong market attribute and a high level of standardization. Compared with the indirect financing provided by the banking industry, it has the unique advantages of risk return matching and incentive constraint integration. The capital market promotes the formation of innovative capital, efficiently converting various funds into capital through arrangements such as venture capital, stock and bond financing, mergers and acquisitions, and restructuring, empowering innovative enterprises with different life cycles. From the perspective of indirect financing, due to the inherent prudence of commercial banks and the mismatch between high risks of technological innovation, the supply of scientific and technological innovation finance in the banking system is still relatively scarce. However, "at present, the financial services in the field of scientific innovation in the banking industry have been on the fast track," said Gu Shu, chairman of the Agricultural Bank of China. In recent years, the domestic banking industry has innovated in response to the "two highs and one lightness" of science and technology innovation enterprises, which are characterized by high technology, high risk, and light assets
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：XinhuaNet
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