The Provincial Party Committee and Provincial Government of Zhejiang have unveiled a set of guidelines designed to propel the high-caliber development of tech financing. These guidelines advocate for the establishment of a financial framework that is in harmony with technological innovation, fortifying financial services across the entire lifecycle of tech innovation enterprises. They also introduce a dedicated program to 'nurture long-term-oriented capital,' steering financial resources towards early-stage, small-scale, long-term, and cutting-edge technology investments. Concurrently, the 'Phoenix Action' plan will be comprehensively executed to facilitate the listing, mergers, and acquisitions of tech innovation enterprises.

Furthermore, the guidelines propose the effective deployment of monetary policy tools, refining specialized mechanisms for bank lending to tech innovation enterprises, scaling up the issuance of tech innovation bonds, and strengthening the risk-sharing mechanism for tech financing. By 2027, the insurance coverage for technology is projected to surpass RMB 700 billion, and by 2030, the issuance volume of tech innovation bonds is expected to rank among the top in the nation.