The "Report on the Implementation of China's Fiscal Policy in the First Half of 2025" recently released by the Ministry of Finance (hereinafter referred to as the "Report") shows that China has accelerated the implementation of more proactive and effective macro policies, strengthened countercyclical regulation, demonstrated strong vitality and resilience in the economy, and achieved new results in high-quality development. Many contents in the report are closely related to technology. For example, to promote the steady implementation of major national strategies and accelerate the development of new quality productive forces, the country has allocated 398.119 billion yuan in central level science and technology expenditure by 2025, an increase of 10% compared to the previous year, further focusing on basic research, applied basic research, and national strategic science and technology tasks; Support the implementation of high-quality development actions for key manufacturing industry chains, and promote industrial transformation and upgrading. Support the deep integration of technological innovation and industrial innovation, and promote the accelerated cultivation and growth of new quality productivity. ”The report points out that we must prioritize technology as a key area for protection, coordinate the use of various policy tools, and promote the acceleration of achieving high-level technological self-reliance and self-improvement. In terms of strengthening technological innovation capabilities, high-level technological self-reliance and self-improvement have taken steady steps. Persist in placing the improvement of original innovation capabilities in a more prominent position. By 2025, the central government's basic research budget will increase by 12.1% compared to the previous year, and increase stable support for research institutes and talents; Support key core technology research and development, and advance the implementation of a number of national science and technology major projects; Promote the continuous growth of national strategic scientific and technological forces, actively support the construction and development of national laboratories, and cooperate to complete the restructuring of national key laboratories; Guide and support the transformation of scientific and technological achievements and local scientific and technological development, support researchers to enjoy ownership or long-term use rights of scientific and technological achievements, allocate 6 billion yuan of central guidance funds for local scientific and technological development by 2025, and support various regions to enhance regional scientific and technological innovation capabilities; The effective use of collaborative innovation procurement methods, guided by government "ordering" to support product innovation and promote application, promotes the breakthrough of innovative products from 0 to 1. In guiding industrial transformation and upgrading, the economic structure continues to optimize. For example, strengthening support to solve the "bottleneck" problem, enhancing funding support for key research and development programs, major special projects, etc. in the manufacturing industry, and improving the resilience and security level of the industrial and supply chains; Effectively promote the high-quality development of small and medium-sized enterprises, and provide rewards and subsidies to a new batch of over 1200 "little giant" enterprises; Guide industrial government investment funds to support the deep integration of technological innovation and industrial innovation in key areas and critical links. In implementing policies that benefit and assist enterprises, the innovation vitality of enterprises continues to increase. Focus on important areas, implement preferential income tax policies for high-tech enterprises, and enhance the R&D and innovation capabilities of enterprises; Focus on key links, implement policies such as additional deduction of enterprise R&D expenses, and encourage increased investment in R&D funds; Focusing on the transformation of achievements, we issued an extra long term special treasury bond fund of 173.4 billion yuan, extended the implementation period of the financial discount policy for equipment renewal loans, and promoted enterprises to purchase new equipment and apply new technologies. It is worth noting that China is intensifying efforts to guide financial resources to support the financing development of technology innovation enterprises. In the first half of the year, the Science and Technology Innovation Special Guarantee Program has supported 22000 small and medium-sized enterprises in science and technology innovation to obtain loans of approximately 90 billion yuan. The report also mentioned in the fiscal policy outlook to accelerate the cultivation and growth of new driving forces for development. Strengthen the supply of industrial innovation technology, promote key core technology research and development, actively cultivate emerging and future industries; Improve the mechanism for allocating and managing financial technology funds, and enhance the efficiency of technology investment. (New Society)