On November 29th, the People's Bank of China, the Ministry of Science and Technology, and other departments jointly held the first meeting of the Science and Technology Finance Coordination Promotion Mechanism on November 27th, which clearly stated that they will give full play to the role of technology innovation and technology transformation refinancing policies, build a high-quality bond market "science and technology board", promote the "fundraising management withdrawal" cycle of private equity investment and venture capital, and strengthen the high-quality development of science and technology insurance. In order to thoroughly implement the spirit of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, accelerate the realization of high-level scientific and technological self-reliance, and implement the "Several Policy Measures to Accelerate the Construction of a Science and Technology Financial System to Strongly Support High level Scientific and Technological Self reliance", the People's Bank of China, the Ministry of Science and Technology and other departments held this meeting. The meeting proposed that the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China should make top-level designs and strategic plans for the development of the next five years. All relevant departments should thoroughly study and implement the spirit of the plenary session, highlight the leading role of scientific and technological innovation, accelerate the construction of a scientific and technological financial system that is compatible with scientific and technological innovation, continue to deepen the structural reform of the financial supply side, promote a virtuous cycle of science and technology, industry, and finance, and provide solid support for building a strong country through science and technology. The meeting believes that during the 14th Five Year Plan period, relevant departments will closely cooperate, central and local governments will work together, and financial support for technological innovation will achieve significant results. A series of important experiences will be explored and formed, and the sense of gain for enterprises will be significantly improved. We have leveraged the functional advantages of various financial formats such as direct financing and indirect financing, and improved the multi-level financial service system. We will build differentiated financial support paths for the entire chain of technological innovation and the entire lifecycle of technology-based enterprises, focusing on investing in early, small, long-term, and hard technology. Strengthen cross departmental policy coordination and create a favorable environment for the development of technology finance. The meeting clarified that next year is the beginning of the 15th Five Year Plan, and all relevant departments should solidly promote the implementation of various work tasks, normalize the operation of the science and technology finance coordination and promotion mechanism, strengthen the coordination between science and technology, finance, and the central and local governments, and further optimize policy measures. Give full play to the role of the policy of re lending for technological innovation and technological transformation, build a high-quality bond market "science and technology board", promote the circulation of private equity investment and venture capital "fundraising, management, and withdrawal", strengthen the high-quality development of technology insurance, guide and promote the scientific and efficient allocation of financial resources, strengthen the evaluation of the effectiveness of the "five major articles" work of financial institutions, improve supporting mechanisms such as financing docking, information sharing, and intellectual property transformation and application, and help high-level technological self-reliance and self-improvement. (New Society)