Make Technology Finance an Innovation Gas Station (Micro level) - Five Great Articles on Finance
2023-11-22
The recently held Central Financial Work Conference pointed out that "we should do a good job in five major articles: technology finance, green finance, inclusive finance, elderly care finance, and digital finance." This edition will launch a series of comments from now on, discussing with readers how to strengthen high-quality financial services, continue to promote practical innovation, theoretical innovation, and institutional innovation in China's financial industry, and gather wisdom and strength to open up a new era of financial work. ——Editors rely more on good financial support for technological innovation, and financial development increasingly relies on technological innovation to expand space. What role can financial support play in the journey of technological innovation? Not long ago, a new energy technology enterprise in Zhejiang Province obtained two patents developed by Zhejiang University of Technology for free by applying for a "use before transfer" insurance product. Originally, the use of patents required a deposit of tens of thousands of yuan, but now only a premium of 600 yuan is required. This greatly reduces the cost of finding suitable patented technologies for enterprises; For universities, it not only improves the conversion rate of scientific and technological achievements, but also avoids the risk of companies defaulting on the "free lunch" after trial use. A technology insurance policy has facilitated a win-win situation among industries, universities, and research institutions, fully reflecting the important role of technology finance in promoting technological innovation and industrialization of technological achievements. Technology finance is an important achievement in the development of technology and economy, and can effectively promote the development of technology and economy. In recent years, China's science and technology finance has developed rapidly, with various financial instruments such as "stock loans, debt guarantees" linked together, not only serving the entire chain of technological innovation such as technology research and development, technology transfer, and industrial application, but also covering the entire life cycle of technology-based enterprises, including the seed stage, start-up stage, growth stage, and maturity stage. From the growth rate of long-term loan balance in high-tech manufacturing industry to over 30% for three consecutive years, to the growth rate of loan balance in technology-based small and medium-sized enterprises to over 25% for three consecutive years, and to the listing of over 1000 "specialized, refined, and new" small and medium-sized enterprises on A-shares... The financial support for technological innovation continues to increase, with rapid expansion in breadth and continuous improvement in accuracy. Technology finance is becoming a "gas station" for implementing innovation driven development strategies. At present, China has preliminarily established a comprehensive and multi-level science and technology innovation financial service system, and a pattern of mutual shaping, close coupling, and virtuous cycle among technology, industry, and finance is forming. With technological innovation activities becoming increasingly complex, technology iteration cycles becoming shorter, and competition becoming increasingly fierce, further exploration is needed on how to better support uncertain technological innovation activities in technology finance. To better leverage the role of technology finance, we need to focus on "being able to understand". As the saying goes, every row is like a mountain. To enable financial institutions to "understand" the patent value, innovation ability, and growth potential of science and technology innovation enterprises, it is necessary to further break down industry information barriers, strengthen departmental linkage, and data sharing. In practice, some good practices have been formed. For example, the construction of information databases for technology-based enterprises and the "Enterprise Innovation Points System" can better "score" and "portrait" science and technology innovation enterprises, providing decision-making basis for financial institutions. At the same time, financial institutions should also strengthen the construction of investment and research capabilities, build a financial model that is more in line with the characteristics of technology-based enterprises, and better connect the innovation chain and funding chain. Improving the level of technology and financial services to better coordinate development
Edit：Luo yu Responsible editor：Wang er dong
Source：people.cn
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