A joint policy opinion from eight Chinese ministries says authorities will
broaden financing channels for the service sector: support eligible service
firms to issue bonds and promote credit‑enhancement and bond‑support tools to
boost funding capacity. While strictly guarding risk limits, the guidance
encourages eligible financial institutions to issue financial bonds in line with
rules to expand services‑sector credit supply. It directs measures to improve
financing for early‑stage, small, long‑term and hard‑tech investments using
venture capital and industry funds, and to support eligible service firms’
listings and M&A. The opinion calls for growing long‑term and patient capital
for sustained service‑sector investment, and for greater use of asset
securitization and infrastructure/commercial REITs to unlock stable cash‑flow
service assets (eg. modern logistics, cultural‑tourism, health‑care). It also
promotes tailored finance‑leasing for operators holding transport equipment and
machinery and expanded leasing services for SMEs.
