Eight Ministries Release Overall Plan for Zhongguancun 'Sci-Tech Finance Reform Pilot Zone,' Supporting Long-term Financing Needs for Blockchain and Other Enterprises
On May 26, according to TuoniaoX.com citing the People's Bank of China website, eight ministries including the central bank, NDRC, Ministry of Science and Technology, MIIT, Ministry of Finance, CBIRC, CSRC, SAFE, and CNIPA jointly released a notice on May 23 regarding the issuance of the "Overall Plan for Building a Sci-Tech Finance Reform Pilot Zone in Beijing's Zhongguancun National Innovation Demonstration Zone."
On May 26, according to TuoniaoX.com citing the People's Bank of China website, eight ministries including the central bank, National Development and Reform Commission, Ministry of Science and Technology, Ministry of Industry and Information Technology, Ministry of Finance, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange, and China National Intellectual Property Administration jointly released a notice on May 23 regarding the issuance of the "Overall Plan for Building a Sci-Tech Finance Reform Pilot Zone in Beijing's Zhongguancun National Innovation Demonstration Zone."
The Plan proposes guiding banks to provide more medium and long-term loans, actively supporting long-term financing needs for innovation R&D, achievement transformation, and industrial upgrading in frontier fields such as artificial intelligence, quantum information, and blockchain; researching and exploring blockchain technology applications in the financial sector; promoting digital yuan pilot applications in more scenarios; expanding the functions of the cross-border financial blockchain service platform; supporting the Beijing International Big Data Exchange in building a digital asset trading platform based on real underlying assets and trading scenarios, under the premise of strictly controlling the number of trading venues; and building a digital copyright trading platform to drive the development of intellectual property financing business.