Cultivating new productive forces has become a hot word in today's economic society.
This year's "Government Work Report" proposes to vigorously promote the construction of a modern industrial system and accelerate the development of new productive forces.
As an important tool linking technology and industry, the financial industry is accelerating to improve its ability to serve new quality productivity, shape new drivers of development and new advantages, and help build a modern industrial system.
"New productivity, as an advanced productivity dominated by technological innovation, creates a higher efficiency level of productivity through continuous innovation in science and technology, resource allocation methods, production organization forms, etc." Many industry insiders said that finance is playing a leading role in promoting science and technology. It has a unique role in deeply integrating with industries and accelerating the transformation of scientific and technological achievements.
Its acceleration of serving new productive forces is not only a key focus of financial support for high-quality development, but also a need to achieve its own development.
Deepen financial supply-side reform
Vigorously serve new quality productivity
According to the observations of many industry insiders, technological innovation can give birth to new industries, new models, and new drivers, and is a core element in developing new productive forces.
Currently, the financial industry is deepening the supply-side structural reform, deeply supporting the construction of a modern industrial system led by technological innovation, and actively enriching the product service system to fully serve the development of new productivity.
"We will fully support technological innovation and provide full life cycle financial services for technological innovation enterprises." At the "Ministerial Channel" of the National Two Sessions on March 11 this year, Li Yunze, director of the State Administration of Financial Supervision, said in an interview that serving new quality productivity It is a key focus for financial support for high-quality development. The State Administration of Financial Supervision is actively studying using financial asset investment companies as a platform to expand the scope of equity investment pilots and further increase support for scientific and technological enterprises.
In addition, we will fully support future industries and emerging industries, promote the digital and intelligent transformation of traditional industries, and create new momentum and new advantages for development.
Wu Qing, chairman of the China Securities Regulatory Commission, also said at the economic-themed press conference held at the second session of the 14th National People's Congress that necessary adjustments and improvements should be made to systems such as issuance and listing, mergers and acquisitions, and equity incentives to adapt to the needs and characteristics of the development of new productive forces. , enhance the inclusiveness and adaptability of the system.
Many financial institutions have recently announced phased results in serving new quality productivity.
Among them, Industrial and Commercial Bank of China focuses on helping technology-based enterprises to tackle key core technologies, with a loan balance of strategic emerging industries of 2.6 trillion yuan at the end of November 2023; China Construction Bank provides technology-based companies with diversified, relay-based, and all-round comprehensive services. Financial services promote the virtuous cycle of "technology-industry-finance", and the balance of technology loans has exceeded 1.5 trillion yuan by the end of 2023; China Life has built a comprehensive and diversified professional technology financial service system, innovated financial products and financing services, and as of By the end of 2023, the existing investment scale to support technological self-reliance and self-reliance will exceed 330 billion yuan; , a year-on-year increase of 43%...
Regarding financial services that release more new productive forces, Zhou Wen, Distinguished Professor at Fudan University and Director of the China Research Center for Marxist Economics, said that it is necessary to proactively plan future industries, optimize the time and space layout of future industries, and focus on the overall national strategic planning and local industries. According to the plan, based on changes in technological maturity, market development, and differences in scientific and educational resources and industrial foundations in various regions, industrial cultivation shall be carried out in stages and in tiers, and industrial development shall be arranged according to local conditions; at the same time, venture capital and private equity shall be promoted through institutional design and policy guidance. Investment and industrial guidance funds support future industrial enterprise entrepreneurship and technology research and development, and create a good financial ecological environment.
Innovative financial service model
Meet new productivity needs
In the process of developing new productive forces according to local conditions, technological innovation is the core element, and finance is an important driving force.
The combination of finance and new productive forces requires that in addition to continuing to deepen the financial supply-side structural reform, it is also necessary to actively enrich the scientific and technological financial product service system, steadily promote the digital transformation of operation and management, and fully serve the development of scientific and technological innovation and advanced manufacturing.
Regarding how to activate the innovation momentum of new productivity, Tian Xuan, deputy dean of Tsinghua University PBC School of Finance, suggested optimizing the indirect financing mechanism.
Vigorously promote the construction of the social credit system, strengthen credit supervision, establish a regulatory mechanism for ex ante credit commitments, in-process credit classification supervision, and ex-post credit punishment, and fundamentally resolve the financing of small and medium-sized enterprises caused by information asymmetry between banks and enterprises and imperfect credit mechanisms. Financing is difficult and expensive.
At the same time, commercial banks should strengthen their own product innovation, combine the development characteristics of new economy enterprises, carry out layered and differentiated designs in terms of credit, term, quota, and model according to the development stage of scientific and technological enterprises, and continuously innovate and enrich credit products to support new economy enterprises. system.
"To develop new productive forces, science and technology finance must be placed in an important position." Feng Yidong, general manager of Zhongtai Securities, said that in addition to providing financing, the capital market can standardize corporate governance structures. It is recommended that multiple levels of capital market support be used to help technological innovation companies. Rapid development.
At the same time, it is recommended to establish a professional national-level science and technology development bank to provide unsecured, unsecured, and unpledged medium and long-term credit loans to science and technology innovation enterprises, and explore flexible and diverse mortgage guarantee models.
Use the intellectual property rights and patents of high-tech products as collateral to provide financial support to enterprises and help form new productive forces.
Pan Helin, co-director of the Digital Economy and Financial Innovation Research Center of Zhejiang University International Business School, believes that judging from the phased results of new service productivity announced by many financial institutions, some banks have contributed to technological innovation through innovative financial products and services. Enterprises and advanced manufacturing industries have provided strong financial support.
Banks can also gain a deeper understanding of the development trends and market demands of these emerging industries by serving new productive forces, and then develop more targeted and innovative financial products and services to meet the diversified needs of customers.
In addition, some people in the industry believe that the industries and fields involved in new productivity often have certain technical thresholds.
The financial service model still needs to continue to make efforts to meet the needs of new productivity. In particular, it is necessary to explore new models such as customized services and investment-loan linkage, and to cultivate a team of professional talents who understand technology, the market, and finance.
(Huangsheng People's Daily Online)