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GDD to pioneer sci-tech finance innovation

Updated : 2022-02-15

Guangzhou Development District (GDD) was selected by the Torch High Technology Industry Development Center of the Ministry of Science and Technology, as well as Industrial and Commercial Bank of China (ICBC) to pioneer the development of sci-tech finance innovation.

The Torch High Technology Industry Development Center and ICBC selected 10 national high-tech industrial development zones to establish sci-tech finance innovation service centers. More than 100 national high-tech industrial development zones will also be selected to innovate the "government + bank" cooperation model, along with ICBC, while more than 1,000 high-tech enterprises will be supported annually.

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A sci-tech enterprise accelerator in GDD.

It is expected that ICBC's balance of financing for high-tech enterprises will exceed 1 trillion yuan ($158 billion) by 2025. A batch of exemplary sci-tech finance innovation products and services are expected to be generated and promoted elsewhere.

GDD will enhance its cooperation with ICBC in data sharing, product innovation, policy integration, strategic research, achievement transformation, talent cultivation, as well as competitions and events related to sci-tech finance. A high-growth sci-tech enterprise cultivation pool will be established, while financial products like "innovation credit" loans will be promoted.

The district's sci-tech finance innovation service center will be developed into a comprehensive platform that integrates financial service innovation, policy application, sci-tech enterprise cultivation, and resource matchmaking. It will provide one-stop and customized financial services for local enterprises, major projects, as well as industrial parks.

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