Notice by the National Financial Regulatory Administration, the Ministry of Industry and Information Technology, and the National Development and Reform Commission of Deepening Financial Services for the Manufacturing Industry and Promoting New Types of Industrialization

Notice by the National Financial Regulatory Administration, the Ministry of Industry and Information Technology, and the National Development and Reform Commission of Deepening Financial Services for the Manufacturing Industry and Promoting New Types of Industrialization

(No. 5 [2024] by the National Financial Regulatory Administration)

All local offices of the National Financial Regulatory Administration, the departments of industry and information technology and development and reform commissions of all provinces, autonomous regions, municipalities directly under the Central Government, cities under separate state planning, and Xinjiang Production and Construction Corps; all policy banks, large-scale banks, joint-stock banks, foreign-funded banks, direct sale banks, financial asset management companies, financial asset investment companies, and wealth management companies; and all insurance group (holding) companies, insurance companies, and insurance asset management companies:

The realization of new types of industrialization is the key task of promoting the construction of a powerful country and national rejuvenation in an all-around way by Chinese-style modernization. In order to thoroughly implement the spirit of the 20th National Congress of the Communist Party of China, the Central Economic Work Conference, and the Central Financial Work Conference, promote the use of more financial resources to promote advanced manufacturing, realize China's transformation from a large manufacturing country to a powerful manufacturing country, direct financial institutions to take serving the high-quality development of the manufacturing industry as the theme, deepen financial services, and help promote new types of industrialization, the relevant matters are hereby announced as follows:

I. General requirements

(1) Guiding ideology. Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the guidelines of the 20th National Congress of the Communist Party of China, the Central Economic Work Conference, and the Central Financial Work Conference shall be thoroughly implemented, the new development philosophy shall be applied in full, in the right way, and in all fields of endeavor, the basic rules guiding the advancement of new types of industrialization in the new era and on the new journey shall be deeply understood, the political and people-oriented nature of the financial work shall be actively put into practice, the provision of financial services for the real economy shall be taken as the fundamental tenet, the development of a manufacturing power shall be taken as the strategic focus, efforts shall be made to enhance the level of industrial modernization, promote the high-end, intelligent, and green development of the manufacturing industry, and provide strong financial support for developing a modern industrial system.

(2) Work requirements. It is required to comprehensively understand the strategic positioning and profound significance of pushing forward new types of industrialization, lay more emphasis on the financial support for the high-quality development of the manufacturing industry, take deepening the structural reform of the financial supply side as the main task, improve the financial policy system and market system for the manufacturing industry, promote concerted efforts by banking and insurance institutions, focus on the key tasks of promoting new types of industrialization, continuously increase financial support, optimize financial service models, and enhance financial professional capabilities, so as to advance the financial support for the development of the manufacturing industry and realize effective qualitative enhancement and reasonable quantitative growth.

II. Increasing financial support for the manufacturing industry by focusing on key tasks

(3) Making efforts to support the safety and stability of industrial chains and supply chains. Banking and insurance institutions shall optimize the allocation of financial resources, increase financial support for basic components, basic materials, basic software, industrial software, and other weak fields and promote the innovative development of major technical equipment. They shall focus on key industrial chains of the manufacturing industry, actively cooperate with relevant industry departments, accelerate and promote the high-quality development of key industrial chains of the manufacturing industry and deeply explore the financing needs of enterprises and projects of key industrial chains, comprehensively adopt syndicated loans, joint credit granting, and other modes to provide professional financial services for key enterprises and major projects. They shall regulate the development of supply chain finance, strengthen financing services for core enterprises, and promote the coordinated development of upstream and downstream enterprises in industrial chains by such means as accounts receivable, negotiable instruments, warehouse receipts, and order financing.

(4) Making efforts to support the innovative development of industrial science and technology. Banking and insurance institutions shall further implement innovation-driven development strategies, improve the science and technology investment and financing system that matches risks and returns, strengthen whole-life-cycle financial services for science and technology enterprises, and help promote the development of new quality productive forces. They shall actively support the innovative development of small- and medium-sized scientific and technological enterprises, innovation-oriented small- and medium-sized enterprises, high and new technology enterprises, specialized and sophisticated small- and medium-sized enterprises that produce new and unique products, enterprises to which enterprise technology centers are subordinated, and single-product specialists in the manufacturing industry, enterprises undertaking major national science and technology projects, and other business entities, and promote breakthroughs in key core technologies and products. Insurance companies shall vigorously develop science and technology insurance, provide products and services against risks in science and technology research and development, and improve the risk sharing mechanism for research and development in tackling key technical problems. Banking and insurance institutions shall focus on pilot-scale experiment services in key fields of the manufacturing industry, explore personalized and targeted support methods, cooperate with pilot-scale experiment institutions in carrying out related insurance business, support the accelerated development of the science and technology service industry, and promote the accelerated transformation of scientific and technological achievements.

(5) Making efforts to support the optimization and upgrading of industrial structure. Banking and insurance institutions shall strengthen medium- and long-term financial support for equipment renewals and technological upgrading in the traditional manufacturing industry, ensure that the special work on increasing......