Shanghai municipal government office issued an action plan directing local banks
to step up credit to technology and traditional SMEs, expand first-loan and
credit-loan supply, and implement no-principal-repayment loan rollovers. The
plan supports banks issuing special financial bonds backed by small- and
micro-enterprise loans and implements fiscal–financial measures including SME
loan interest subsidies. It calls for revised credit risk-compensation and
lending-incentive rules, stronger financing service centers with online-platform
linkage, mobilizing industry funds to steer long-term/patient capital into
early-stage, small and hard-tech firms, and regular publication of IP-finance
product lists plus rules for disposal of IP-pledged collateral.
