The General Office of the Henan Provincial Government has recently unveiled the Special Action Plan for Enhancing the Quality and Efficiency of Science and Technology Finance in Henan Province. This strategic initiative is designed to bolster financial support for technological innovation and foster a deeper integration and mutually beneficial interaction among science and technology, industry, and finance sectors.

The plan sets a clear target: by 2027, Henan Province will endeavor to sustain a continuous growth rate in loans to technology-based small and medium-sized enterprises (SMEs) that outpaces the average growth rate of all loans by 20 percentage points. Moreover, it anticipates that the interest rates on newly issued loans to these tech-based enterprises will be notably lower than the average interest rates across all loan categories. Additionally, the plan aims to achieve a loan acquisition rate of 60% for technology-based enterprises, surpassing the national average.

To realize these objectives, the plan outlines four key actions:

• Implement Four Credit Efficiency Enhancement Actions: This includes initiatives to break the ice for first-time loans to technology-based enterprises and to expand the availability of credit loans.
• Establish Three Investment and Financing Linkage Mechanisms: These mechanisms will facilitate the coordination of 'equity, loans, bonds, insurance, and investment' as well as 'innovation score-based' financing approaches.
• Improve the Quality and Efficiency of Listing Promotion Efforts: This involves enhancing the precision of listing cultivation and expanding the coverage of the fund system to better support tech-based enterprises in going public.
• Strengthen Risk-Sharing Safeguards: A technology insurance co-insurance pool will be established to provide additional risk protection for technology-based enterprises.