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Ministry plans targeted guarantee program for tech innovations

By Liu Zhihua | chinadaily.com.cn | Updated: 2024-05-21 13:46

A staff member checks optoelectronics products at a tech firm in Kunshan, Jiangsu province, on May 15, 2024. [Photo/VCG]

The Ministry of Finance is planning to launch a targeted guarantee program for technological innovations, it said on Tuesday.

The new program in the pipeline aims to enhance the National Financing Guarantee Fund's role in sharing and mitigating risks for small and medium-sized enterprises engaged in technological innovations.

It is designed to encourage banks and government-backed financing guarantee institutions at various levels to increase their financial support for these tech-oriented enterprises. The goal is to mobilize additional financial resources toward technological innovations, thereby providing a robust foundation for achieving greater self-reliance in science and technology, accelerating the development of new quality productive forces, and driving high-quality economic development.


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