Four departments: fully support technological innovation, vigorously invest in early stage, small scale, long term and hard technology.

On May 15th, the People's Bank of China, the Ministry of Science and Technology, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission jointly held a work exchange and promotion meeting on science and technology finance. The meeting emphasized that financial regulatory authorities, science and technology departments, and financial institutions should thoroughly implement the decision-making arrangements of the Party Central Committee and the State Council, implement and refine various policy measures to build a science and technology financial system, explore the establishment of institutional mechanisms compatible with technological innovation, provide comprehensive support for scientific and technological innovation, and vigorously invest in early stage, small scale, long-term, and hard technology. At the same time, accelerate the implementation of policies for technology innovation and technological transformation re-lending, incentivize and guide financial institutions to expand the financing for first loans to technology enterprises and equipment upgrade loans. Better leverage the important role of banks and insurance in serving technological innovation, effectively enhance the lending and investment in the technology sector, and further advance the work of financial asset management companies, equity investment pilots, and technology enterprise mergers and acquisitions loan pilots. Construct a "technology board" in the bond market, use technology innovation bond risk-sharing tools to support equity investment institutions in bond financing. The original text above provided information about a meeting convened by multiple government and financial regulatory authorities in China to discuss the advancement of science and technology finance. The meeting emphasized the need for financial institutions, science departments, and financial institutions to implement policies that support building a science and technology financial system, and encouraged support for technological innovation. It also highlighted the importance of implementing policies such as technology innovation and improving technological re-lending, expanding financing for technology enterprises, and promoting the integration of finance, technology, and industry.