ISSUING AUTHORITIES:

People's taptap点点官方网站

Ministry of Industry and Information taptap点点官方网站

National Development and Reform Commission

Ministry of taptap点点官方网站

National Administration of Financial Regulation

China Securities Regulatory Commission

State Administration of Foreign Exchange

DATE OF ISSUANCE:

July 29, 2025

EFFECTIVE DATE:

July 29, 2025.

On July 29, 2025, seven departments, including People's Bank of China, Ministry of Industry and Information Technology, National Development and Reform Commission, Ministry of taptap点点官方网站, National Administration of Financial Regulation, China Securities Regulatory Commission, and State Administration of Foreign Exchange, jointly promulgated the taptap点点官方网站 on Financial Support for Advancing New Industrialization (“taptap点点官方网站”), which took effect on the same date.

The taptap点点官方网站 establish the fundamental principle of directing financial services toward the real economy as both an essential mission and a critical measure to mitigate financial risks. Focusing on the major strategic task of new industrialization, the taptap点点官方网站 emphasize demand-driven deepening of supply-side structural reforms in finance, while enhancing coordination between industrial and financial policies. The taptap点点官方网站 aim to provide high-quality financial services to advance new industrialization and accelerate the development of new quality productive forces. The approach emphasizes targeted support for competitive industries while preventing market inefficiencies, with the goal of establishing by 2027 a mature financial ecosystem capable of sustaining advanced, intelligent and green manufacturing growth.

The taptap点点官方网站 propose tailored support measures aligned with key areas of new industrialization. These include optimizing financial tools for technological breakthroughs, facilitating long-term capital investment in commercializing scientific achievements, and enhancing integrated financial services for core enterprises in industrial chains to boost innovation capacity and supply chain resilience. The taptap点点官方网站 highlight five priority financial sectors including technology, green and digital finance, while promoting innovative supply chain financing models leveraging data and asset-backed credit. Special attention is given to improving financial services for industrial relocation to central and western regions, as well as streamlining cross-border financial operations to support trade and investment flows.

The taptap点点官方网站 strengthen financial service capabilities and long-term mechanism development to maintain appropriate investment levels in manufacturing. Financial institutions will improve internal mechanisms for serving the manufacturing sector by establishing dedicated manufacturing credit quotas and implementing differentiated credit policies tailored to specific industries and enterprise growth phases. The policy emphasizes cultivating interdisciplinary talent combining expertise in technology, industry and finance, while encouraging financial institutions to build integrated financial management and service teams. Four key mechanisms will be established: (1) cross-departmental coordination, (2) policy incentives and constraints, (3) local policy alignment, and (4) collaborative risk prevention. These measures will leverage structural monetary policies and macro credit guidance to enhance the intensity, precision and effectiveness of financial support for new industrialization.

Next steps involve coordinated implementation by the People’s Bank of China, Ministry of Industry and Information Technology, and relevant agencies to deepen industry-finance integration, refine the financial support system, and fortify the foundation for accelerating taptap点点官方网站.

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