focus on the two sessions| Pan Gongsheng, Governor of the Central Bank: Plans to expand the scale of reloans for technological innovation and technological transformation and reduce reloan interest rates

Blue Whale News, March 6 (Reporter Jin Lei)On March 6, Pan Gongsheng, President of the People’s Bank of China, said at a press conference on the economic theme of the Third Session of the 14th National People’s Congress that the People’s Bank of China will further optimize the reloan policy for scientific and technological innovation and technological transformation, and further expand the scale of reloans from the current 500 billion yuan. Expand the yuan to 800 billion yuan to 1 trillion yuan; reduce the reloan interest rate; expand the scope of reloan support and significantly increase policy coverage; maintain fiscal interest subsidies to further reduce corporate financing costs; Optimize the reloan use process.

Pan Gongsheng said that he will also innovate to launch the technology board in the bond market, support financial institutions, technology-based companies, and private equity investment institutions to issue science and technology innovation bonds, and enrich the product system of science and technology innovation bonds.

The first is to support commercial banks, securities companies, financial asset investment companies and other financial institutions to issue science and technology innovation bonds and broaden the sources of funds for science and technology loans, bond investment, and equity investment.

The second is to support technology-based enterprises in the growth and maturity stages to issue medium-and long-term bonds to increase investment in R & D, project construction, mergers and acquisitions, etc. in the field of scientific and technological innovation.

The third is to support leading private equity investment institutions and venture capital institutions with rich scientific and technological experience to issue long-term scientific and technological innovation bonds to drive more funds to invest early, small, long-term, and hard technology.

Pan Gongsheng said that the above-mentioned specific policy measures will help stimulate the power of scientific and technological innovation and market vitality, and drive more social investment such as private capital and government funds to participate in scientific and technological innovation. In the next step, the People’s Bank of China will strengthen communication and cooperation with relevant departments, improve the policy system for financial support for scientific and technological innovation, strive to cultivate a financial market ecosystem that supports scientific and technological innovation, and continue to improve the ability, intensity and level of financial support for scientific and technological innovation.