On the occasion of the National People's Congress and the Chinese People's Political Consultative Conference in 2024, a reporter from Securities Daily learned that Wang Dongsheng, a member of the National Committee of the Chinese People's Political Consultative Conference, deputy director of the Agriculture and Rural Affairs Committee, and chairman of the Hong Kong and Shanghai HSBC Bank Limited, has submitted relevant proposals on promoting the healthy development of science and technology finance, and the development of distributed photovoltaics in the Guangdong Hong Kong Macao Greater Bay Area.
Regarding promoting the healthy development of technology finance, Wang Dongsheng stated that finance is the lifeblood of the real economy, and technology is an important support for the development of the real economy. Therefore, technology finance is listed as the top five major articles in finance.
"In recent years, financial regulatory authorities, technology departments, and financial institutions have taken multiple measures to improve the convenience of loan financing for high-end manufacturing, specialized and innovative enterprises, and technology-based small and medium-sized enterprises. At the same time, by promoting the construction of technology finance pilot projects, many replicable and promotable systems and experiences have been formed, laying a good foundation for financial support for technological innovation and development." Wang Dongsheng said.
To further promote the development of technology finance, Wang Dongsheng proposes three suggestions: first, strengthen top-level design and increase government funding and related policies to support technological innovation and transformation. Suggest establishing a cross departmental expert group to coordinate research and propose strategic plans for national scientific and technological development, and promote the coordinated development of science and technology and finance. At the same time, review the effectiveness of government support policies. On the one hand, various measures should be taken to increase government investment in technology and support for research and development activities, such as increasing research and development funding levels and increasing government procurement efforts. On the other hand, by increasing the tax deduction amount of research and development expenses, enterprises are incentivized to increase their investment in science and technology. In addition, the government should introduce policies to guide more private capital and overseas funds to provide financial support for technological innovation and transformation.
The second is to strengthen the deep cooperation between financial institutions and technology enterprises, guide financial institutions to use various financial means such as venture capital, private equity investment, equity, debt, and insurance according to the actual needs of technology enterprises at different stages of development, and provide full chain and full life cycle financial services for technology enterprises. Different regulatory agencies should also provide policy support and enhance regulatory tolerance for the launch of different products and services by financial institutions.
The third is to focus on interdisciplinary talent cultivation and improve the level of financial institutions serving technology enterprises. At present, financial institutions have a huge demand for versatile talents who understand both finance and technology. On the one hand, it is recommended that colleges and universities adjust their disciplinary settings according to market demand, accelerate the cultivation and reserve of interdisciplinary and compound talents; On the other hand, supporting measures should be formulated, including preferential policies for personal income tax, to help financial institutions attract international talents and enhance their ability and level to serve technological innovation and transformation.