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Mainland Expands Tech Innovation and Equipment Upgrade Loan Support to 14 Sectors Including AI
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The People's Bank of China, the National Development and Reform Commission, and the Ministry of Finance jointly issued a notice stating that they will expand the scope of support for technological innovation and equipment upgrades. Private small and medium-sized enterprises with relatively high R&D investment intensity will be included in the relending policy support framework, while the coverage of loans for technological transformation and equipment upgrades will be extended to 14 sectors, including electronic information, artificial intelligence (AI), facility agriculture, and commercial consumer facilities. At the same time, authorities will enhance the quality and efficiency of loan services, strengthen financial support for enterprises purchasing AI equipment and software services, promote the development of "AI + industry," and optimize the disbursement and management of relending funds to improve policy implementation efficiency. The notice also stated that efforts will adhere to the strategy of expanding domestic demand, optimize the implementation of the "Two New" policies, innovate technology finance services, fully leverage the incremental relending policy for technological innovation and transformation, and strengthen policy coordination. Authorities will continue to enhance financial services for small and medium-sized technology enterprises and large-scale equipment upgrades, and accelerate the promotion and application of high-end, intelligent, green, and digital equipment in key sectors. (ta/j) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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