On August 5, the People's Bank of China and six other departments jointly issued the Guiding Opinions on Financial Support for New-type Industrialization.
The Opinions stated that qualified enterprises in emerging industries such as next-generation information technology, basic software and industrial software, intelligent (connected) vehicles, new energy, new materials, high-end equipment, spatio-temporal information, commercial aerospace, biopharmaceuticals, and network and data security should be supported in financing through multi-tiered capital markets.
It also called for advancing reforms on the investment side, improving long-term performance evaluations for investment institutions, and promoting long-term funds from government investment funds, state-owned enterprise funds, insurance companies, etc., to accelerate the deployment of future industries, focusing on areas such as future manufacturing, future information, future materials, future energy, future space, and future health, under the premise of controllable risks.