Sci-Tech Market launched to aid firms
Print Edition
Jiading District has launched a Sci-Tech Market with a comprehensive system to support sci-tech finance.
This initiative uses scientific and technological achievements as “seeds,” leveraging the capital from investment institutions and the expertise of financial institutions to build an ecosystem supported by the district’s robust policy framework. The goal is to enable technology companies to “take root, sprout” and ultimately “flourish.”
In his address, Xiao Wengao, Jiading’s Party secretary, emphasized that the Sci-Tech Market will provide full-chain support for the “transformation-incubation-industrialization” of sci-tech achievements. Sci-tech finance, a crucial driver of the mutual promotion between technology and finance, serves as the central function of the Sci-Tech Market.
To create a digital, all-in-one sci-tech finance service model, the Shanghai Exchange Group — one of China’s biggest and most important trading organizations — teamed up with Jiading to start an online part of the Sci-Tech Market. This platform offers integrated services, including information release, resource matching and policy support.
At the launch event, four financial institutions signed credit agreements with eight technology-based enterprises, totaling a credit line of 1.052 billion yuan (US$148.38 million). Additionally, six groups of projects focused on transforming sci-tech achievements signed equity investment agreements with investment institutions, amounting to 325 million yuan.
Jiading is actively optimizing its service system for sci-tech finance to enhance the alignment of financial resources with industrial needs.
As of the end of September this year, loans to technology-based enterprises from major banks in the district reached 40.5 billion yuan, reflecting a year-on-year increase of nearly 13 percent.
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