China's Financial Regulatory Administration, the Ministry of Science and
Technology and other ministries held a tech-insurance promotion meeting
directing insurers to expand coverage for major national science tasks and
technology-focused SMEs and to push tech insurance into industrial parks,
incubators and high-tech zones. The agencies called for insurance product
optimisation across the full innovation chain—R&D, pilot production, pilot
trials and first use, commercialization and industrialization—and for embedding
risk assessment, monitoring and hazard checks into firms' innovation processes.
Insurance firms were told to strengthen policy, product, team, talent and
performance systems, accumulate technology-risk data and refine actuarial
pricing. Insurance capital should be mobilized to invest early, in smaller
tickets, for longer durations and into hard-tech via bonds, funds, equity and
asset securitization. Financial regulators, the science ministry, MIIT, the
finance ministry and IP authorities were asked to coordinate support for
innovation alongside fund-safety management. The meeting also launched a
tech-insurance publicity campaign and exchanged policy guidance and typical
cases.
