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Technological innovation requires the support of financial "active water". Wu Qing, chairman of the China Securities Regulatory Commission, recently stated at the Lujiazui Forum that they need to further strengthen the advantages of stock and bond linkage services for supporting technological innovation. They will vigorously develop science and technology innovation bonds, optimize issuance and trading system arrangements, support the preparation of more science and technology innovation indices, develop more science and technology themed public mutual fund products, and attract more medium and long-term funds to participate in technology enterprise investment. Ming Ming, chief economist of CITIC Securities, stated that the policy support for science and technology innovation bonds has significantly increased, and the credit enhancement mechanism has lowered the issuance threshold for small and medium technology enterprises. Matching long-term bonds with research and development cycles and strengthening liquidity support measures have enhanced the attractiveness of the secondary market. The policy precisely addresses the financing difficulties of science and technology enterprises, and science and technology innovation bonds are expected to become the core hub of a virtuous cycle of "technologyindustryfinance". (Securities Times)