Li Yunze: Support the establishment of a financial asset investment company by a national commercial bank that meets the conditions, and approval for one is expected to be given today.

Li Yunze, Director of the China Banking and Insurance Regulatory Commission, stated at a press conference today that the next step will focus on deepening existing pilot projects, actively expanding new models, improving the technology financial system that adapts to technological innovation, and fully serving the development of new quality productivity. First, optimize credit services and promote the establishment of a specialized mechanism to support credit for technological innovation, support banks in establishing specialized technology financial institutions in an orderly manner, and encourage exploration of long-term performance evaluation systems for technology loans. We are currently revising the regulations on acquisition loans and will implement them as soon as possible. We will further unleash the potential of acquisition loans to promote industrial transformation and upgrading. Second, strengthen insurance protection, accelerate the formulation of opinions on the high-quality development of technology insurance, better play the role of risk sharing and compensation, support more co-insurance mechanisms, provide insurance protection for major technological breakthroughs, promote insurance products in emerging areas such as research and development of robots, drones, and effectively support enterprise innovation and development. Third, expand equity investment, encourage insurance funds to participate in venture capital investments in a market-oriented manner and orderly carry out major equity investments in unlisted technology companies. We support the establishment of financial asset investment companies by national commercial banks that meet the requirements, and approvals for these are expected to be granted soon. We will approve one today to enhance investment in technology startups.