Central Bank: Cultivating a financial ecosystem that supports technological innovation.

Establish a coordinated mechanism for advancing science and technology finance, implement policies for re-lending for technology innovation and technological transformation, establish a high-quality bond market "technology board," and cultivate a financial ecosystem that supports technology innovation. By the end of 2025, the proportion of incremental technology loans in all loans will be 28.6%; the balance of foreign currency loans for technology-oriented small and medium-sized enterprises will be 3.6 trillion yuan, a year-on-year increase of 19.8%, which is 13.6 percentage points higher than the growth rate of all loans during the same period; the loan approval rate for "specialized, refined, new" small and medium-sized enterprises will reach 73%; the signed amount of loans for technology innovation and technological transformation will exceed 2.8 trillion yuan, with loans disbursed totaling 1.3 trillion yuan. There are 390 entities issuing technology innovation bonds totaling 1.0 trillion yuan in the interbank bond market, including 53 equity investment institutions issuing science and technology innovation bonds totaling 45.21 billion yuan. Eight private equity investment institutions have obtained risk-sharing tools support, achieving the expected effects of long-term, low-cost, and risk-sharing from multiple parties.