Chairman Zhang Hui of the Bank of China: Financial assistance will boost the development of new productive forces, with a key focus on making great strides in financial technology.

On June 19, Zhang Hui, vice chairman and president of the Bank of China, stated at the 2025 Lujiazui Forum that financial assistance is essential in developing new productive forces, and the key is to focus on the development of technology finance. Zhang Hui pointed out that in order to excel in technology finance, three main issues need to be addressed: firstly, the transformation of technological achievements from laboratories to industrial applications involves great uncertainty from 0 to 1, from 1 to N. However, financial institutions often seek predictive certainty, which can lead to misallocation of financial resources. Secondly, traditional financial logic emphasizes cash flow and financial indicators, while the core value of technology companies lies in their technology. Therefore, financial institutions need to evaluate the value of technology and have higher requirements for their professionalism. Thirdly, the entire chain of scientific and technological industrialization demands a comprehensive range of financial services, but financial institutions often provide singular financial products and services. To enhance their collaborative service capabilities and establish funding channels, financial institutions need to do more work.