The Third Session of the 14th National People's Congress held an economic theme press conference today (6th), and the heads of relevant departments answered questions from Chinese and foreign reporters on issues such as development and reform, fiscal budget, business, financial securities, etc.
People's Bank of China Governor Pan Gongsheng introduced that he will innovate the launch of the "technology board" in the bond market. Support three types of entities including financial institutions, technology-based enterprises, private equity investment institutions to issue technology innovation bonds, and enrich the product system of technology innovation bonds.
·First, support commercial banks, securities companies, financial asset investment companies and other financial institutions to issue technology innovation bonds, and expand the sources of funds for technology loans, bond investments and equity investments.
·The second is to support technology-based enterprises in the growth and mature stages to issue medium- and long-term bonds to increase R&D investment, project construction, mergers and acquisitions, etc. in the field of scientific and technological innovation.
·The third is to support leading private equity investment institutions, venture capital institutions, etc. with rich investment experience to issue long-term technology innovation bonds, so as to drive more funds to invest early, small, long-term and hard technology.
At the same time, optimize the re-lending policy for scientific and technological innovation and technological transformation. Further expand the scale of re-lending, from the current 500 billion to 800 billion to 100 billion, to better meet the financing needs of enterprises. Reducing the re-lending interest rate is the interest rate of re-lending funds provided by the People's Bank of China to commercial banks and strengthening policy incentives for banks. Expand the scope of re-lending support and significantly increase the coverage of policies. Work with the fiscal consultation to maintain fiscal interest subsidies and further reduce corporate financing costs. Optimize the re-lending policy process and improve the efficiency and convenience of policy implementation.
These specific policy measures will help stimulate the driving force and market vitality of scientific and technological innovation, and drive more private capital, government funds and other social investments to participate in scientific and technological innovation.
