In order to accelerate the construction of a technology finance system that is compatible with technological innovation, support high-level technological self-reliance and self-improvement, and lead the development of new quality productive forces, with the approval of the Provincial People's Government, on December 25th, the Provincial Local Financial Administration, together with the Provincial Development and Reform Commission, Provincial Department of Science and Technology, Provincial Department of Industry and Information Technology, Guangdong Branch of the People's Bank of China, Guangdong Regulatory Bureau of the State Financial Supervision Administration, Guangdong Regulatory Bureau of the China Securities Regulatory Commission, Shenzhen Branch of the People's Bank of China, Shenzhen Financial Regulatory Bureau, Shenzhen Securities Regulatory Bureau and other departments, issued the "Work Plan for Promoting the Construction of a Technology Strong Province in Financial Services in Guangdong Province". The details are as follows: The Work Plan for Guangdong Province to Promote the Construction of a Technology Strong Province in Financial Services is formulated to fully implement the spirit of the 20th National Congress of the Communist Party of China and the 2nd, 3rd, and 4th Plenary Sessions of the 20th Central Committee, conscientiously implement the strategic deployment of the Party Central Committee and the State Council on accelerating the construction of a technology strong country, and the series of deployment spirits of the State Council on doing a good job in finance, explore the establishment of a technology finance system that is compatible with the construction of a technology strong province, promote the formation of a virtuous cycle of "technology industry finance" in Guangdong Province, support high-level technological self-reliance and self-improvement, and help develop new quality productivity. This work plan is formulated. 1、 The overall goal is strategically guided by the goal of building a strong technology province with good financial services, focusing on key areas of the Guangdong Hong Kong Macao Greater Bay Area International Innovation Center, strategic emerging industries, future industries, and key enterprises such as the "Ten Million, Ten Thousand, and Ten Thousand" plan. It aims to accelerate the guidance of the entire process innovation chain of financial element services, including "basic research+technological breakthroughs+achievement transformation+technology finance+talent support", promote innovation in financial service application scenarios, and comprehensively improve the quality and efficiency of financial support for technological innovation. By the end of 2027, a modern technology finance matrix system that is compatible with technological innovation will be initially established, and various means such as "base, loan, bond, stock, futures, and government" will be comprehensively utilized to explore the provision of full chain, relay style, and multi-level financial services for various stages such as seed stage, start-up stage, growth stage, expansion stage, and maturity stage. Strive to rank among the top in the country in terms of the balance of loans for technology-based enterprises and technology related industries, with a growth rate higher than the average loan growth rate. The scale of intellectual property pledge financing continues to grow, and the service quality and efficiency of technology branches have significantly improved. The service capacity of technology insurance co insurance bodies continues to enhance; Direct financing remains among the top in the country, and the scale of science and technology innovation bond issuance has achieved a leapfrog growth; The variety system of green futures has become more diverse, and local financial organizations have steadily improved their ability to support technological innovation. 2、 Focus on key areas and strengthen financial support for the construction of a technologically strong province. (1) Key regions focus on the overall layout of the "Outline of the Development Plan for the Guangdong Hong Kong Macao Greater Bay Area", based on the strategic positioning of "one point, two places" and the construction of international science and technology innovation centers. Focus on major platforms such as Hengqin, Qianhai, Nansha, and Hetao, continuously guide financial elements to serve the hinterland and strategic depth of regional development, promote the full play of comparative advantages between Guangzhou, Shenzhen, and other nine cities in the Pearl River Delta and the eastern, northwestern, and northwestern regions of Guangdong, and coordinate development according to their main functional positioning. （2） Key industries adhere to the fundamental purpose of providing financial services to the real economy, and adhere to the principles of marketization and rule of law, continuously guiding financial elements to focus on serving emerging and future industries. Encourage financial factors to focus on strategic emerging industries such as integrated circuits, new energy vehicles, low altitude economy, biomedicine, new energy storage, new energy, cutting-edge new materials, artificial intelligence, as well as future industries such as general intelligence, biomanufacturing, commercial aerospace, quantum technology, and advanced materials. （3） Key enterprises will guide the cultivation of the "Ten Million, Ten Thousand" plan for the gradient of financial element services, giving full play to the leading role of 50 technology leading enterprises and 100 "chain owner" enterprises, serving 1000 manufacturing single champion enterprises and 10000 specialized, refined and new enterprises. Support the supplementation and strengthening of the industrial chain, and drive the development of technology-based small and medium-sized enterprises. 3、 Main task (1) Implement the Strong Foundation Project of Science and Technology Finance 1. Explore the construction of a relay system for science and technology innovation investment funds. Encourage governments at all levels to leverage the guiding role of government investment funds (venture capital, industrial investment), as well as the investment role of various funds such as enterprise venture capital (CVC) and financial asset investment companies (AIC), to make good use of equity funds (VC, PE), securities funds (technology themed stock funds, bond funds, etc.), alternative asset funds (REITs, intellectual property securitization funds, etc.), cross-border funds (QDII funds, QFII funds), and to guide the use of pilot projects for equity investment of financial asset investment companies and long-term investment reform of insurance funds. Expand funding channels from multiple dimensions, explore the formation of a fund matrix relay to support technological innovation and development, and guide social capital to invest early, small, and hard technology. Using VC and PE to support seed stage, start-up stage, and growth stage technology-based enterprises, promoting securities investment funds to support technology-based enterprises in the expansion and maturity stages to improve valuation and reduce financing costs, exploring the use of alternative asset funds such as REITs and intellectual property securitization funds in the field of new infrastructure to support technology-based enterprises in the growth and maturity stages, and accelerating the research and development cycle. Explore the use of Qualified Domestic Institutional Investors (QDII) and Qualified Foreign Institutional Investors (QFII) to support technology-based enterprises in the mature and accelerating stages of globalization to introduce strategic investments, improve cross-border mergers and acquisitions integration of core technologies, and enhance their ability to supplement and strengthen their chains. Promote the exploration of a linkage mechanism for supporting scientific and technological innovation through "subsidy, reform, and investment". Further smooth the exit channels, make good use of exit mechanisms such as equity investment and venture capital fund share transfer pilot, physical distribution of stocks pilot, and reverse linkage of venture capital reduction, vigorously develop merger and acquisition funds and second-hand share transfer funds (S funds), and effectively expand the exit channels for private equity investment and venture capital. (The Provincial Development and Reform Commission, Provincial Department of Science and Technology, Provincial Department of Industry and Information Technology, Provincial Department of Finance, Provincial State owned Assets Supervision and Administration Commission, Provincial Taxation Bureau, Guangdong Financial Supervision Bureau, Guangdong Securities Regulatory Bureau, Shenzhen Financial Supervision Bureau, and Shenzhen Securities Regulatory Bureau are responsible for their respective duties) 2. Optimize the full cycle technology credit system. On the premise of compliance with laws and regulations and controllable risks, guide banking and financial institutions to improve and establish a technology credit system that adapts to stages such as "start-up, growth, expansion, and maturity", improve differentiated technology credit approval, assessment incentives, and fault tolerance and exemption mechanisms, expand the scale of technology credit, and increase the investment of M&A loans in the field of technology innovation. Urge corporate banks to establish a credit evaluation system for technology enterprises based on core indicators such as patent ownership, proportion of scientific research investment, and proportion of scientific research personnel. In response to the characteristics of light assets in technology-based enterprises, exploration will be carried out in the fields of equity pledge, trademark pledge, patent pledge, etc., to guide the optimization of diversified financing models linked by stocks and bonds, support the exploration of new models such as "loan+external direct investment", "convertible loan", "investment loan guarantee", and explore credit products that can flexibly repay principal and interest. Reasonably determine the pricing of loan interest rates, interest repayment methods, and loan terms for technology-based enterprises with high initial investment and low income. Establish a regulatory evaluation mechanism for technology finance specialized branches, explore a closed-loop management system for technology finance institutions that includes "regulatory evaluation pilot empowerment dynamic management", promote the differentiation of technology branch products, institutional differentiation, management system, and diversified services, and enhance the service capabilities of technology branches. 3. Actively play the role of the "technology board" in the bond market. (The Provincial Local Financial Administration, Provincial Department of Science and Technology, Provincial Market Supervision Bureau, Guangdong Branch of the People's Bank of China, Guangdong Financial Supervision Bureau, Guangdong Securities Regulatory Bureau, Shenzhen Branch of the People's Bank of China, Shenzhen Financial Supervision Bureau, and Shenzhen Securities Regulatory Bureau are responsible for their respective duties.). Further utilize the measures taken by the People's Bank of China and the China Securities Regulatory Commission to enrich the product system of science and technology innovation bonds and improve the supporting mechanism for science and technology innovation bonds. Support financial institutions, technology-based enterprises, private equity investment institutions, and venture capital institutions to issue technology innovation bonds, raising funds to support investment and financing in the field of technology innovation. Support commercial banks, securities companies, financial asset investment companies and other financial institutions to lawfully use raised funds through various channels such as loans, equity, bond, fund investments, capital intermediary services, etc., and provide special support for business in the field of technological innovation. Guide financial institutions to increase their investment in science and technology innovation bonds, promote the incremental expansion of science and technology innovation bond financing, and create a good market ecology of primary and secondary linkage and investment and financing coordination. (The Provincial Department of Science and Technology, the Provincial Market Supervision Bureau, the Guangdong Branch of the People's Bank of China, the Guangdong Financial Supervision Bureau, the Guangdong Securities Regulatory Bureau, the Shenzhen Branch of the People's Bank of China, the Shenzhen Financial Supervision Bureau, and the Shenzhen Securities Regulatory Bureau are responsible for their respective duties.) 4. Play a key hub role in supporting technological innovation through multi-level capital markets. Coordinate the use of various tools in multi-level capital markets to support the development of technology-based enterprises in different stages such as growth, expansion, and maturity. Strengthen the collaborative mechanism of "three institutes and one center", support cities in establishing standardized, hierarchical, and industry-specific incubation systems for listing, and build a technology listing army. Guide technology-based enterprises to adapt to the positioning and listing financing of various sectors such as the Shanghai and Shenzhen Main Board, Science and Technology Innovation Board, Growth Enterprise Market, and Beijing Stock Exchange, and encourage unprofitable technology-based enterprises to make good use of the Shanghai Stock Exchange Science and Technology Innovation Board's growth layer and the Shenzhen Stock Exchange's third set of financial standards for listing on the Growth Enterprise Market. Guide technology-based enterprises to make reasonable use of the "two markets and two resources" of domestic and foreign listings, and support qualified biopharmaceutical enterprises and specialized technology enterprises to raise funds through listing on Hong Kong stocks 18A and 18C. Guide technology-based enterprises to comprehensively utilize various capital tools such as stocks and targeted convertible bonds to carry out mergers and acquisitions, focusing on key industries to strengthen, supplement, and extend the supply chain, and extending it to the upstream and downstream of the industrial chain such as the research and development end and the market end. Consolidate the "foundation" function of regional equity markets, and construct high-quality "specialized, refined, unique, and new" and "technological innovation" specialized boards. (The Provincial Local Financial Management Bureau, Provincial Department of Science and Technology, Provincial Development and Reform Commission, Provincial State owned Assets Supervision and Administration Commission, Guangdong Securities Regulatory Bureau, Shenzhen Securities Regulatory Bureau, Guangdong Branch of the People's Bank of China, Guangdong Financial Supervision Bureau, Shenzhen Branch of the People's Bank of China, and Shenzhen Financial Supervision Bureau are responsible for their respective roles and responsibilities.) 5. Orderly promote the empowerment of technology innovation through the futures and technology innovation index system. Accelerate the improvement of the futures product sector serving strategic emerging industries. Further refine and refine the new energy futures sector, actively promote the research and development of lithium hydroxide and other futures products for listing, and focus on building a complete new energy product system. Steadily promote the research and development of major strategic products such as carbon emission rights, and assist in the development of strategic emerging industries such as new energy and energy storage. Give full play to the important role of index and index based investment as carriers connecting the investment and financing ends of the capital market, support index institutions to focus on key regions, key industries, and key enterprises, increase research and development efforts on science and technology innovation index, and actively create a benchmark index for science and technology innovation characteristics. Support securities and fund management institutions to develop technology themed fund products that are in line with national strategies, improve proactive management capabilities, and actively invest in technology-based enterprises. Enrich the categories of technology innovation index and exchange traded open-ended index funds (ETFs), promote the aggregation of more medium and long-term funds towards the development of new quality productivity, and further guide technology innovation index fund tools to play a greater functional role in promoting innovation driven development. (Guangdong Securities Regulatory Bureau, Shenzhen Securities Regulatory Bureau, Guangzhou Futures Exchange shall be responsible for their respective duties) 6. Give full play to the convenient role of cross-border financial services. Make good use of the pilot program for facilitating cross-border financing for technology-based small and medium-sized enterprises