The People’s Bank of China and other ministries issued guidance to boost
financial support for Beijing (Beijing–Tianjin–Hebei), Shanghai (Yangtze River
Delta) and the Guangdong–Hong Kong–Macao Greater Bay Area as international
science-and-technology innovation centres. Measures include building an
integrated, full‑chain tech‑finance service system across the Yangtze River
Delta, with Shanghai to lead a multi‑participant, shared tech‑finance ecosystem
and deeper integration of funding, innovation, industry and talent chains. The
guidance targets Shanghai, Nanjing, Suzhou, Hangzhou, Ningbo and Hefei,
accelerating construction of five regional sci‑tech finance reform pilot zones,
freeing cross‑regional factor flows and promoting efficient, balanced allocation
of quality financial resources in the delta. It calls for faster implementation
of STAR Market reforms and improvements to issuance and listing mechanisms for
tech firms; optimisation of G60 Sci‑Tech Corridor regional financial services
and scaling of a tech commercialisation fund; strengthened risk‑sharing
arrangements, support for innovation in tech insurance and wider use of
co‑insurance; cross‑regional mutual recognition of tech‑finance standards;
support for cross‑regional operations and “sci‑tech enclave” development; and
fuller use of cross‑border financing facilitation policies.
