The central bank sets up re-loans for technological innovation with a quota of 200 billion yuan

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 Titanium Media reported on April 28 that in order to implement the decisions and deployments of the CPC Central Committee and the State Council, according to the requirements of the State Council executive meeting, the People's Bank of China established technological innovation re-lending to guide financial institutions to increase support for technological innovation and leverage social funds to promote technological innovation. Innovation. The re-loan for scientific and technological innovation is 200 billion yuan, the interest rate is 1.75%, the term is 1 year, and it can be extended twice. The recipients include China Development Bank, policy banks, state-owned commercial banks, Postal Savings Bank of China, joint-stock commercial banks, etc. A total of 21 Financial institutions shall provide financial support in accordance with 60% of the principal of loans issued by financial institutions that meet the requirements of technology enterprises. The technological innovation re-loan adopts the direct mechanism of “first loan and then borrowing”, which is issued on a quarterly basis, and provides scientific and technological innovation re-loan fund support according to 60% of the loan principal of technology enterprises within the scope of support and with a term of 6 months and above. From April 1, 2022, financial institutions will apply to the People's Bank of China for re-loan funds for technological innovation in the first month of the next quarter after issuing loans to eligible technology companies in accordance with market-oriented principles. For eligible loans, the People's Bank of China provides financial support for technological innovation re-lending.

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