**The financial work conference pointed out that finance should provide high-quality services for economic and social development, and do a good job in five major articles: science and technology finance, green finance, inclusive finance, pension finance, and digital finance, among which science and technology finance ranks first. Recently, the People's Bank of China, the Ministry of Science and Technology, the State Administration of Financial Supervision and the China Securities Regulatory Commission jointly held a meeting on the exchange and promotion of science and technology finance, proposing to establish and improve the system and mechanism for promoting science and technology finance, and pay close attention to formulating implementation measures to increase support for the financing of science and technology enterprises.
Science and technology finance is not only an important achievement of science and technology and economic development, but also can effectively promote science and technology and economic development. In recent years, financial management departments, science and technology departments and financial institutions have taken multiple measures to strengthen the construction of science and technology financial service system, and have achieved positive results. Loans for high-end manufacturing industries, loans for specialized, special and new enterprises, and loans for small and medium-sized technology-based enterprises continued to maintain a high growth rate, and the convenience of credit financing for technology-based enterprises continued to improve. The construction of the Science and Technology Innovation Board and the Beijing Stock Exchange and the reform of the registration-based system have been further promoted, the issuance scale of science and technology innovation bills and science and technology corporate bonds has continued to expand, and the direct financing channels for science and technology enterprises have become smoother. The quality and efficiency of financial services such as science and technology insurance, financing guarantees, and venture capital have been continuously improved, and the cultivation of the financial ecosystem for science and technology innovation has been accelerated. The Science and Technology Innovation Finance Reform Pilot Zone and the Science and Technology Finance Pilot Zone of the High-tech Zone have been promoted in an orderly manner, which has played a demonstration and leading role in exploring new paths and models of science and technology finance.
At present, China has initially built a comprehensive and multi-level financial service system for science and technology, and a pattern of mutual shaping, close coupling and virtuous cycle of science and technology, industry and finance is taking shape. As scientific and technological innovation activities become more and more complex, the technology iteration cycle becomes shorter and shorter, and the competition becomes more and more fierce, how to make science and technology finance better support scientific and technological innovation activities needs to be further explored.
Science and technology enterprises are often small in scale, light in assets, and limited in credit enhancement methods, making it difficult to apply the traditional evaluation methods of commercial banks. Overall, banks' motivation to serve I-tech enterprises, especially SME and I-tech enterprises, is still insufficient. Specifically, there are problems such as difficulty in risk identification, risk pricing, and risk allocation, and challenges such as difficulty in customer access, poor connection of the whole chain of investment and financing services, and mismatch of risk control systems. In view of these problems, it is necessary for commercial banks to accelerate the cultivation of their capabilities in science and technology financial services, including the ability to evaluate the value of science and technology enterprises, the ability to innovate services linked with investment and loans, and the ability to control risks in line with science and technology financial business.
To improve the level of science and technology financial services, it is necessary to better coordinate development and security. There is a lot of risk in innovation investment, and to guide the allocation of financial resources to the field of scientific and technological innovation, it is necessary to accelerate the improvement of the scientific and technological financial service system and build a good ecological environment for scientific and technological finance. On the one hand, it is necessary to vigorously develop a multi-level capital market, adhere to the "two-legged walk" of direct financing and indirect financing, and strive to increase the proportion of direct financing for science and technology enterprises. On the other hand, it is necessary to promote financial institutions to establish a separate credit evaluation model for science and technology enterprises, and set up a special institution for science and technology finance to better assess investment risks. At the same time, it is necessary to further improve the credit risk sharing system for small and medium-sized technology-based enterprises, and actively explore the credit enhancement and risk compensation mechanism for science and technology enterprises. Only by better managing and preventing risks, and effectively balancing risks and returns, can a virtuous circle be formed.
Nowadays, scientific and technological innovation is more dependent on good financial support, and financial development is increasingly relying on scientific and technological innovation to expand space. On the journey of accelerating the construction of a strong country in science and technology, we will further improve the policy framework and market mechanism of financial support for scientific and technological innovation, and continuously enrich the financial tools and products of science and technology, so that the "seeds" of scientific and technological innovation will be nourished by more financial living water, and the innovation and creativity of the whole society will continue to burst out. (This article**: Economy** Author: Yao Jin).
*:Economy**.