MKsportstrialed for deployment at car factories in East China's Shanghai. Photo: Screenshot of the video from Fourier's official website " src="https://www.globaltimes.cn/Portals/0/attachment/2025/2025-02-18/f128a283-79d1-4ad1-9ab6-5543ab341516.jpeg" />

A robot is trialed for deployment at car factories in East China's Shanghai. Photo: Screenshot of the video from Fourier's official website

 
China will strengthen financial support for realizing high-level scientific and technological (sci-tech) self-reliance and building the country into a sci-tech powerhouse through various means, according to a guideline released by the General Office of the State Council, the cabinet, on Wednesday. 

The guideline contained various measures for promoting sci-tech finance, green finance, inclusive finance, old-age finance and digital finance. To enhance financial services for sci-tech innovation, the guideline proposes to integrate tools like equity investments and insurance to provide comprehensive support for tech companies at every stage of growth. 

It also vowed to prioritize funding for major national research projects and small and medium-sized tech firms, while leveraging the multi-tier capital market as a pivotal hub to support sci-tech innovation and focusing on investing early, in small and in hardcore technologies. 

The guideline also said that China will optimize the financing environment for specialized small and medium-sized enterprises (SMEs) through measures such as developing equity investment, supporting patient capital, and cultivating specialized SMEs.

It outlined different measures to support sci-tech advancements, such as developing dedicated bonds and optimizing the issuance mechanisms, as well as increasing equity financing support for sci-tech-based enterprises that make breakthroughs in key core technologies.

In addition, the guideline outlined key aspects and major tasks for the other four key areas of policy support. The guideline set goals for achieving remarkable progress in the five sectors by 2027, with the sci-tech financing system being more compatible with demand for realizing the goal of high-level self-reliance and self-improvement in science and technology. 

The issuance of such systemic guideline provides a coordinated plan in sci-tech finance for the next three years, offering a solid guarantee for advancing the country's high-quality development in the sci-tech field, Zhao Xijun, co-president of the China Capital Market Research Institute at the Renmin University of China, told the Global Times on Wednesday. 

Zhao noted that the goal-setting process related to sci-tech finance indicated that the core task is not only to provide financing support for relevant enterprises but also to build a complete financing system to provide long-term and stable financial protection for sci-tech innovation. 

Speaking on the country's financial advantages in supporting domestic innovation, Zhao highlighted its strong foundation, adding that China has already established a relatively complete system of capital support for sci-tech finance through various measures and platforms. 

The National Financial Regulatory Administration (NFRA) issued a notice on Wednesday about plans to expand its equity investment pilot program, with one measure related to supporting qualified commercial banks in setting up financial asset investment companies. 

The steady and orderly increase of participating institutions is conducive to mobilizing more funds and resources for the program, while further increasing support for scientific and technological innovation and private enterprises, according to the notice. 

The NFRA's move is expected to significantly enhance the availability of financing for private enterprises, especially those involved in sci-tech innovation, and provide stronger financial support for their development, Xi Junyang, a professor at the Shanghai University of Finance and Economics, told the Global Times on Wednesday. 

Xi noted that responsible authorities may further refine supporting measures in areas such as capital investment, assessment mechanisms and equity financing channels to promote better development of private enterprises. 

He noted that the expansion of the pilot program and further moves will not only help boost market confidence, but will also provide a stronger impetus for China's sci-tech innovation and the high-quality development of the private economy.  

When it comes to boosting the sustained development of sci-tech finance, Zhao said that the capital market may further strengthen its support for firms involved in sci-tech innovation, especially financing of early-stage and high-risk projects.