(Yicai) May 15 -- China has introduced a series of financial policies aimed at achieving greater self-reliance in science and technology, according to the Ministry of Science and Technology.

The measures target venture capital, monetary credit, capital markets, and technology insurance, with the goal of building a robust sci-tech sector, the MOST announced on its website yesterday.

The policies were jointly issued by the MOST, the People’s Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, the National Development and Reform Commission, the Ministry of Finance, and the State-owned Assets Supervision and Administration Commission.

Among the measures is the establishment of a national VC guidance fund to support strategic emerging industries, particularly future-oriented sectors. During the recent Two Sessions, NDRC Chairman Zheng Shanjie noted that the fund -- designed with a term of up to 20 years -- will channel nearly CNY1 trillion (USD138 billion) into innovative tech firms, targeting frontier fields such as artificial intelligence, quantum technology, and hydrogen energy.

The plans emphasize the use of structural monetary policy tools, including the expansion of relending quotas for sci-tech innovation and technological upgrades. These initiatives aim to encourage financial institutions to increase funding for key national R&D projects, small and medium-sized tech enterprises, and technical transformation and equipment upgrades in critical areas.

China will also strengthen support for the initial public offerings of eligible tech companies to drive major scientific and technological breakthroughs. In listing financing, priority will be given to firms that have achieved core technology breakthroughs. The country will also leverage technology insurance to boost innovation and refine fiscal policies to better guide and support sci-tech financing.

In addition, the blueprint designates pilot zones for tech-finance integration. These include international sci-tech innovation hubs such as Beijing, Shanghai, and the Guangdong-Hong Kong-Macao Greater Bay Area, as well as regional hubs like Chengdu, Chongqing, Wuhan, and Xi’an. These zones will trial innovative policies under market-oriented and rule-of-law frameworks.

To attract global capital, China will make it easier for foreign investors to invest in domestic tech firms. This includes expanding the Qualified Foreign Limited Partner scheme and the cross-border financing pilot to diversify funding channels for Chinese startups, the document concluded.

Editor: Emmi Laine