I. Basic Concept
To carry out this Implementation Plan in full, efforts should be made to follow the basic principles of keeping the highest standards, leading by example, being innovation-driven and serving the real economy in an open market under government guidance and progressing steadily forward without relinquishing full control over risks, so as to give full play to the abundant sci-tech innovation resources already in place in Beijing, the advantages of financial resource agglomeration and the very role of Zhongguancun itself, and support the construction of an International Center for Science & Technology Innovation in Beijing.
II. Objectives
This Implementation Plan calls for the creation of a systemic financial mechanism conducive to supporting sci-tech innovation, a leading national financial ecosystem tailored to sci-tech innovation and a financial service system for sci-tech innovation with global influence in the next five years.
Details include:
A more robust organizational system for sci-tech innovation finance
More abundant financial products and services for sci-tech innovation
Better policies and mechanisms for sci-tech innovation finance
An optimized development environment for sci-tech innovation finance
III. Main Content
(I) Improving financial products and services for sci-tech innovation.
1. Increasing credit support for enterprises oriented towards sci-tech innovation
2. Using existing monetary policy tools properly and fully
3. Establishing and improving the assessment, incentive, and due diligence-based liability exemption systems for sci-tech innovation finance
4. Meeting the capital needs of enterprises engaged in sci-tech innovation throughout the process
5. Supporting long-term capital investment in enterprises engaged in sci-tech innovation
6. Enhancing the level of financial services for major national sci-tech innovation and basic research
7. Energizing talents for innovation
8. Guiding specialized financial development for sci-tech innovation
9. Optimizing sci-tech financial service models
(II) Optimizing the financial market system for sci-tech innovation
1. Developing and expanding venture capital investment
2. Increasing the guiding capacity of government funds
3. Making Beijing Stock Exchange the primary platform for innovation-oriented small and medium-sized enterprises
4. Deepening the reform of the New Third Board (National Equities Exchange and Quotations)
5. Supporting the Beijing Equity Trading Center to conduct innovative businesses
6. Encouraging enterprises engaged in sci-tech innovation to utilize the bond market for financing
7. Supporting the establishment of a pilot scheme for infrastructure real estate investment trusts (REITs)
(III) Improving insurance and guarantee systems for sci-tech innovation
1. Establishing and improving an insurance system for sci-tech innovation
2. Optimizing the financial guarantee system for sci-tech innovation
3. Improving the financing risk compensation and sharing mechanism for sci-tech innovation
(IV) Consolidating financial infrastructure for sci-tech innovation
1. Deepening the government-bank-enterprise matchmaking mechanism for sci-tech innovation finance
2. Establishing the Beijing Intellectual Property Exchange
3. Optimizing the intellectual property financing service mechanism
4. Improving the intellectual property pledge financing policy
5. Building a long-term mechanism for information cooperation
(V) Promoting fintech innovation and its subsequent applications
1. Optimizing and improving the fintech innovation supervision mechanism
2. Diversifying fintech application scenarios
3. Accelerating the development of digital financial services
4. Strengthening the supervision of sci-tech applications
(VI) Promoting open exchanges and cooperation in sci-tech innovation finance .
1. Advancing the dual development of sci-tech innovation and green innovation
2. Promoting the coordinated development of sci-tech innovation finance in the Beijing-Tianjin-Hebei region
3. Building a world-class cross-border financial service system
4. Promoting cross-border RMB business innovation
(VII) Optimizing the financial ecosystem for sci-tech innovation.
1. Continuously optimizing the business environment
2. Improving the financial intermediary service system for sci-tech innovation
3. Boosting the risk prevention and control in financial institutions
4. Strengthening the legal construction for sci-tech innovation finance
5. Improving the coordinated financial risk prevention system
IV. Safeguard Measures
Strengthening organizational leadership, policy support, talent policies, and evaluation and assessment.
Setting up a special working group to oversee the planning and coordination work.
Optimizing the allocation and use of fiscal funds and promoting the coordinated application of policy instruments.
Attracting sci-tech talents for business startup and innovation, improving supporting service guarantees, and optimizing the research environment.
Formulating task lists to strengthen the tracking and evaluation of pilot projects.
V. Policy Highlights
1. Highlighting Zhongguancun's pivotal role
Seeking to leverage Zhongguancun's role as a test field, harnessing the synergy created by pilot reform measures there and the measures for the development of the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone, capitalizing on the combined advantages of finance and sci-tech innovation to explore more replicable and expandable experiences.
2. Highlighting the establishment of platforms and long-term mechanisms
In an effort to leverage the role of existing platforms and mechanisms such as the Beijing Loan Service Center and Zhongguancun Sci-Tech Innovation Financial Service Center, we are also actively exploring new sci-tech innovation financing models to foster more institutional achievements, such as establishing a fund pool for risk compensation of inclusive financing and deepening qualified domestic (QDLP) and foreign limited partnership (QFLP) pilot schemes.
3. Highlighting the integrated development of finance and sci-tech
With serving sci-tech innovation as the starting point and foothold, we aim to achieve highly efficient integration of sci-tech and financial resources, provide diversified and full-cycle financial services and guide financial institutions to further optimize financial products and services based on the different needs of enterprises engaged in sci-tech innovation at their different stages of development.
4. Highlighting coordinated development and security
Scientifically planning the development path of sci-tech innovation finance, carrying out various financial reforms and innovations in accordance with the law and regulations, improving financial risk monitoring and early warning mechanisms, enhancing the identification capabilities of financial risks, coordinating financial support and risk prevention, and strictly adhering to the bottom-line of precluding the occurrence of systemic financial risks.