Another refined area has welcomed financial support measures. In order to speed up the construction of a financial and manufacturing power, seven departments including the People's Bank of China and the Ministry of Industry and Information Technology jointly issued the Guiding Opinions on Financial Support for New Industrialization (hereinafter referred to as the Opinions) on August 5, which requires providing high-quality financial services to promote new industrialization and accelerate the development of new quality productivity, adhering to classified measures, supporting and controlling, promoting the industry to accelerate its progress towards the middle and high-end, and preventing "internal" competition. The Opinion proposes 18 financial support measures in five aspects, including supporting the enhancement of industrial technological innovation capabilities and the resilience of industrial and supply chains, and supporting the acceleration of the construction of a modern industrial system. At the macro level, the Opinion focuses on optimizing the structure of capital supply and providing financing support such as loans, bonds, and equity for new industrialization. According to the overall goal, the Opinion clearly requires that by 2027, the financial system supporting the high-end, intelligent, and green development of the manufacturing industry will be basically mature, the products will be more abundant, and various financial instruments such as loans, bonds, equity, insurance, etc. will be more closely linked under the effective prevention of cross financial risks, and the service adaptability will be effectively enhanced. The effective credit demand of manufacturing enterprises has been fully met, and the number and scale of bond issuance by manufacturing enterprises continue to increase, with a significant improvement in equity financing level. In terms of refining measures, the Opinion emphasizes strengthening the linkage and cooperation of various financial instruments, including leveraging the guiding role of structural monetary policies and macro credit policies, encouraging insurance companies to actively engage in various technology insurance businesses, supporting eligible enterprises in emerging industries to raise funds in multi-level capital markets, and providing long-term stable financial support for the development of advanced manufacturing industry. The Opinion points out that for technology companies that break through key core technologies, the "green channel" for listing financing, mergers and acquisitions, and bond issuance should be applied. The reporter noticed that since October 2024, relevant regulatory authorities have repeatedly mentioned the need to promote the development of relevant guidance on financial support for new industrialization. On July 28, 2025, the Ministry of Industry and Information Technology held a symposium to deploy the work plan for the second half of the year, and also proposed to promote the formulation of guidance on financial support for new industrialization, and expand the implementation of the "Technology Industry Financial Integration" special project. The integration of technology industry and finance is also mentioned in this Opinion. In terms of introducing long-term funds, developing patient capital, and accelerating the transformation of scientific and technological achievements, the "Opinions" point out the implementation of the "Technology Industry Financial Integration" special project, carrying out the "One Month One Chain" investment and financing roadshow and the "Thousand Sails and Hundred Boats" specialized and innovative small and medium-sized enterprise listing cultivation, optimizing the hard technology attribute evaluation system, strengthening the guidance of listing expectations and policy incentives, and promoting social capital investment in early, small, long-term, and hard technology. The Opinion also mentions the use of credit information on the flow of funds of small and medium-sized enterprises to explore a supply chain "de core" model that does not rely on the credit of core enterprises. In addition, expanding the scale of RMB settlement for cross-border trade can better meet the foreign trade settlement needs of enterprises. Support eligible enterprises to pilot cross-border fund pool business, facilitating the coordinated transfer and use of domestic and foreign funds. In the view of Xue Hongyan, a special researcher at Su Shang Bank, "integration of technology industry and finance" is one of the many policy measures worth paying attention to in the "Opinions". Through the evaluation system of hard technology attributes and the "Thousand Sails and Hundred Boats" listing cultivation plan, the "last mile" of social capital flowing into the hard technology field can be opened up, which can enable more innovative achievements in laboratories to quickly move towards industrialization. Exploring the "de core" service model of industrial chain finance, leveraging the national small and medium-sized enterprise fund flow credit information sharing platform, enables specialized and innovative enterprises lacking core enterprise guarantees to obtain credit through real transaction data. This innovation of "data for credit" is expected to stimulate the vitality of the end of the industrial chain. Enhancing the convenience of cross-border financial services, from facilitating cross-border settlement to upgrading foreign exchange hedging services, from expanding export credit insurance to overseas intellectual property financing support, comprehensive cross-border financial services give 'Made in China' more confidence in global industrial chain competition. ”Xue Hongyan added. Xue Hongyan believes that the issuance of the "Opinions" is not only a key measure to implement the decision-making and deployment of the Party Central Committee, but also marks a new stage of systematic deepening of the coordinated development of finance and industry in China. This document aims to serve the real economy as its fundamental purpose, based on the pain points and difficulties in the process of financial support for the upgrading of the real economy industry. It constructs a full cycle and multi-level financial service framework, accurately directing financial resources to the areas where the industry needs them most, and further improving the ability of financial services to promote high-quality development of the real economy. It is reported that in the next step, the People's Bank of China, the Ministry of Industry and Information Technology, together with relevant departments, will fully promote the implementation of various measures of the Opinions, deepen industrial and financial cooperation, improve the financial support system for new industrialization, and provide more powerful financial support for accelerating the promotion of new industrialization. (New Society)