Zhou Xiaoquan: Measures will be introduced and implemented to fully leverage the function of direct financing and further strengthen the financial services for technology.

On June 12th, the Shanghai Municipal Government held a government press conference, inviting officials from the Shanghai Municipal Committee Financial Office, the Shanghai headquarters of the People's Bank of China, the Office of the China Banking and Insurance Regulatory Commission, and the Shanghai Securities Regulatory Bureau to attend and introduce the relevant details of the 2026 Lujiazui Forum. Zhou Xiaoquan, Executive Deputy Director of the Shanghai Municipal Committee Financial Office, stated that next steps will include implementing measures to "fully leverage the direct financing function and further strengthen technology financial services," further increasing financial support for technological innovation. Firstly, further leverage the leading role of the capital market. Support companies in connecting with various levels of the capital market, make effective use of tools like mergers and acquisitions and refinancing, promote more "hard tech" companies to list on the Science and Technology Innovation Board, and improve the quality and investment value of listed companies. Secondly, further leverage the role of equity investment as a main force. Create an equity investment hub, enhance early-stage investment leading pricing capabilities, improve the equity investment continuation mechanism, and promote investments in early stages, small scale, long-term, and hard technology. Thirdly, further leverage the basic support role of bank credit. Develop exclusive technology credit products, promote the application of the "Shanghai Science Points" evaluation results, and advance the comprehensive pilot of intellectual property finance ecology. Fourthly, further leverage the risk protection function of technology insurance. Support innovation in insurance products for innovative drugs and medical devices, key technical equipment, intellectual property, and strengthen insurance protection for key areas such as major technological breakthroughs, key industries, future industries, and technology-based SMEs. Fifthly, further create a "tropical rainforest" style technology financial policy ecosystem. Accelerate the construction of a science and technology financial reform pilot zone, play the role of the Science and Technology Innovation Financial Alliance as a bridge, support the establishment of technology financial business due diligence immunity and long-term performance evaluation mechanisms.