Title: Jinan City Issues Special Policies to Boost Modern Financial Industry Development
Subtitle: Measures aim to promote science and technology innovation and finance in Jinan
Jinan City, located in eastern China, has recently released several supporting policies to accelerate the development of the modern financial industry. The policies, which are specifically designed for the construction of a science and technology innovation financial reform pilot zone, aim to promote the growth of the modern financial sector and foster the development of science and technology innovation in the city.
In the first half of this year, Jinan’s GDP reached 584.1 billion yuan, marking a year-on-year increase of 6.4%. This growth rate has surpassed that of the entire country and the province, reflecting sustained improvements in both quality and quantity. To continue this positive trend, the Standing Committee of the Municipal Party Committee has laid out plans to strengthen financial support in the second half of the year. Emphasis will be placed on leveraging the capital market to support project construction and boost the development of the real economy.
Technological innovation is considered a vital catalyst for development, and the success of science and technology innovation heavily relies on financial support. As the nation’s first science and technology innovation financial reform pilot zone, Jinan aims to capitalize on its early advantage by continuously enhancing the quality and efficiency of science and innovation finance services. This focus on high-quality economic development is expected to drive the city’s economic growth.
To further promote science and technology innovation finance, Jinan has introduced ten new supporting policies as part of the “Ten Measures for Science and Technology Innovation Finance”. These policies include subsidies for high-tech financial institutions, loan subsidies for science and technology innovation enterprises, as well as incentives for promoting the construction of a provincial intellectual property trading market and a unified financing service platform. By implementing these measures, the city aims to provide robust financial support for technological innovation, stimulating innovation among enterprises and contributing to the high-quality economic development of Jinan.
Jinan has also prioritized meeting the needs of enterprises and strengthening the development of science and technology innovation and finance. To achieve this, the city has implemented various measures to serve the scientific and technological innovation of enterprises and enhance financial service support. Currently, 31 financial institutions in Jinan offer a total of 64 special credit products for science and technology innovation. This has led to a steady increase in the loan rate for science and technology innovation enterprises, with the loan balance reaching 162.17 billion yuan by the end of June, a 34.3% year-on-year increase. Going forward, Jinan plans to focus on high-tech enterprises and enhance the adaptability of financial supply and demand for technology innovation enterprises.
In line with the need for continuous innovation, Jinan is accelerating the construction of a financial service system suitable for technology-based enterprises. The city was recently approved to carry out a pilot program of fintech innovation in the capital market, making it a national-level pilot project for financial reform and innovation. Leveraging technologies such as big data, cloud computing, artificial intelligence, and blockchain, Jinan aims to empower various businesses in the capital market and foster deep integration with the financial industry. This initiative will set a model for capital market reform and innovation while also promoting the digital transformation of capital market industry institutions.
In conclusion, Jinan’s efforts to develop and improve its financial service system for science and technology innovation reflect its commitment to driving economic growth through technological advancements. By strengthening financial support and implementing innovative policies, Jinan aims to promote high-quality economic development and establish itself as a leading hub for science, technology, and finance in China.