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CN Authorities Roll Out New Quality Productive Forces Measures, Support Quality Tech Firms' Listings and Financing, Back Private Enterprises in Leading National Major Technology Breakthrough Tasks
2026-10-12 11:51:39 The Central Committee of the Communist Party of China and the State Council issued measures to develop new quality productive forces, proposing to strengthen original and disruptive technological innovation; accelerate breakthroughs in key core technologies; coordinate the development of national strategic scientific and technological capabilities; reinforce the principal role of enterprises in technological innovation; accelerate the commercialization of scientific and technological achievements into real productive forces; upgrade traditional industries; foster and expand emerging industries; make forward-looking arrangements for future industries; promote deep integration of the real economy and digital economy; comprehensively implement the "Artificial Intelligence+" initiative; and increase the supply of innovative financial products. Among the measures, authorities encouraged and regulated the development of angel investment, venture capital and private equity investment, while better leveraging the guiding and driving role of government investment funds. Policies supporting long-term capital investment in early-stage projects, small enterprises, long-duration investments and hard technology will be improved to strengthen patient capital. Banks are encouraged to develop loan products tailored to the characteristics of new quality productive forces. The technology innovation bond product system will be enriched, while quality technology enterprises will be supported in listings and financing. Systems for mergers and acquisitions, restructuring and equity incentives for technology enterprises will also be optimized. Insurance products covering the entire chain of technological innovation will be developed, alongside exploration of businesses such as technology leasing. Authorities will strengthen the supply of inclusive incentive policies and establish a corporate R&D reserve fund system to reinforce enterprises' leading role in technology investment. Technology-oriented small and medium-sized enterprises are encouraged to increase R&D investment, while the additional tax deduction ratio for R&D expenses will be raised. Corporate R&D projects meeting national strategic needs may be elevated to national projects through proper procedures. Enterprises are encouraged to lead national technology tasks, while capable private enterprises will be supported in leading national major technology breakthrough tasks. A mechanism for users to assess and evaluate innovation results will be established to reinforce enterprises' central role in commercializing research outcomes. Institutional arrangements for state-owned enterprises to advance original innovation will also be improved. Support will also be provided for the development of specialized and sophisticated SMEs that produce new and unique products. (jl/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |