Yangzi Evening News Network November 10 (reporter Xu Jing Ma Yan) reporter learned from the Jiangsu Banking and Insurance Regulatory Bureau that in recent years, the Suzhou Banking and Insurance Regulatory Bureau and the city's science and technology, industry and information technology, finance and other departments of multi-party coordination, improve the policy chain, smooth the information chain, leverage the capital chain, optimize the service chain, guide the banking and insurance institutions to increase support for scientific and technological innovation, achieved remarkable results, formed a unique science and technology finance "Suzhou model". The city's comprehensive strength of scientific and technological innovation has ranked first in the province for many years, and the number of high-level enterprises, net increase and effective high-level enterprises have ranked first in the province.
Image source Visual China
Improving the "policy chain"
Targeted measures around pain points and difficulties
Suzhou is a strong city of scientific and technological innovation, with 4 national high-tech zones and 7 provincial-level high-tech zones, and biomedicine, medical devices, nano-new materials and small nucleic acids have been selected as national strategic emerging industrial clusters and innovative industrial clusters.
Science and technology finance is a system composed of the government, the market, intermediary institutions, financial enterprises, science and technology enterprises and other entities and their related activities, which requires all parties to work together to form a joint force.
In 2009, the Suzhou Municipal Government issued the "Notice on Several Opinions on Strengthening the Combination of Science and Technology Finance and Promoting the Development of Science and Technology Enterprises and the Decomposition Table of The Main Tasks", which was revised in September 2018, proposing measures such as improving the policy system, innovative science and technology credit services and excavating the connotation of science and technology insurance development in order to further strengthen the innovation and integration of science and technology finance and promote the development of science and technology enterprises. In 2015, the "Suzhou Financial Support Enterprise Independent Innovation Action Plan (2015-2020)" was issued, which is oriented to solving the financing problems of enterprises in the process of innovation and development, through institutional arrangements and resource allocation, using 20 comprehensive financial service tools such as encouraging banks to issue credit loans, insurance companies to carry out loan guarantee insurance, and setting up investment-loan (insurance) linkage fund and credit insurance fund to tailor financial service solutions for innovative enterprises.
Smooth the "information chain"
Help financial resources to accurate drip irrigation
The competent department of science and technology has built a "pyramid" database of science and technology enterprises and a distribution map of scientific and technological innovation entities, covering five echelons of science and technology smuts (13075), high-tech enterprises (9740), science and technology leading talent enterprises (1691), gazelle plan enterprises (391), unicorn cultivation enterprises (102), drawing the "geographical outline" of Suzhou's scientific and technological innovation, dynamically displaying from scientific and technological entrepreneurship, patent authorization to R&D team, and then to R&D investment. The growth of product revenue technology innovation R & D index system, the construction of a "barometer" to monitor the development of suzhou science and technology innovation, to guide financial institutions to provide more suitable financial services for science and technology enterprises at different stages of development. During the year, it will also run the Suzhou Science and Technology Enterprise Innovation Element Inquiry Platform "Science and Enterprise Inspection" on the internet, from the aspects of intellectual property rights, finance, team and other aspects of the innovation ability of the "portrait", and select the best batch to recommend to financial institutions, to help enterprises to transform innovation into financing power, has initially completed the 102 unicorn cultivation enterprise portrait label.
The financial regulatory department cooperates closely with the competent department of science and technology to promote the banking, insurance, venture capital and other institutions under its jurisdiction to enter the science and technology financial platform such as the science and technology financial ecosystem platform built by the Municipal Science and Technology Bureau and the comprehensive financial service platform built by the financial regulatory department, and guide more than 30 banks under its jurisdiction to set up a "corporate independent innovation financial support center" to achieve the agglomeration effect and scale effect of the supply side of science and technology finance.
Leverage the "capital chain"
Guide financial institutions to be willing to lend and dare to guarantee
The government has set up a special reward and supplement fund pool such as the science and technology loan risk compensation fund, the credit guarantee fund, and the science and technology loan discount fund, and updates and issues the "Notice of Suzhou Science and Technology Financial Plan Project" every year, and compensates the losses caused by science and technology credit through the "government compensation + bank credit" risk sharing model. For example, according to the sales income of less than 50 million yuan, 50 million yuan to 200 million yuan, more than 200 million yuan, more than 200 million yuan to classify science and technology enterprises, respectively, give 50%, 40%, 30% of the risk compensation, the proportion of key support objects of compensation of 80%. As of the end of September 2021, "Science and Technology Loan" has issued loans of 52.312 billion yuan to 8,939 science and technology enterprises, cultivated 47 unicorn enterprises, and listed companies 23, including 12 enterprises on the Science and Technology Innovation Board. For eleven consecutive years, it has subsidized the interest expense of science and technology loans for 4433 technology-based small and medium-sized enterprises by 258.953 million yuan.
In June 2013, with the approval of the former China Insurance Regulatory Commission, the country's first "insurance and technology combination" comprehensive innovation pilot landed in Suzhou, and in 2021, the Suzhou Banking and Insurance Regulatory Bureau promoted the management committee of the high-tech zone to further introduce a three-year action plan for building an "insurance + technology highland", clarifying the goals and main tasks for 2021-2023. Suzhou Municipal Science and Technology Bureau, together with the Finance Bureau and the Suzhou Banking and Insurance Regulatory Bureau, has established and optimized the special financial subsidy policy for science and technology insurance premiums, and has subsidized the total cost of science and technology insurance for 1234 technology-based small and medium-sized enterprises for 1234 consecutive years.
Optimize the "service chain"
Tailor-made to keep abreast of the needs of enterprises
As of the end of September 2021, 7 science and technology branches, 13 science and technology special departments, 58 science and technology branch branches and the first science and technology insurance branch company in China have been established, and 10 functional headquarters related to science and technology finance have been introduced. Guide franchised institutions to implement the "five single mechanisms", that is, separate allocation of human resources, separate credit plans, separate credit evaluation systems, assessment mechanisms, and due diligence exemption systems, and improve the enthusiasm, accuracy and professionalism of service technology enterprises. For example, the introduction of special risk assessment and credit approval models, flexible adjustment of credit granting policies and evaluation processes; special recruitment of biomedicine, artificial intelligence and other high-tech fields of science and engineering talents; weaken the attention to financial indicators, give provision returns, accounting assessment of undercount or do not count the risk cost, special adjustment and reduction of science and technology financial product FTP pricing and other policy preferences. As of the end of September 2021, the balance of loans to technology-based enterprises of major Chinese-funded commercial banks in Suzhou was 134.826 billion yuan, an increase of 30.64% over the beginning of the year.
In view of the R&D risk protection needs of science and technology enterprises, Suzhou Municipal Science and Technology Bureau and PICC Property & Casualty Suzhou Branch pioneered the "Science and Technology R&D Expense Loss Insurance" in the country, providing R&D cost protection of 46 "unicorn" cultivation enterprises with 46 million yuan, and the premium was fully subsidized by the municipal finance; the first "integrated circuit tape-out cost loss insurance" landed in the country to fill the gap of risk protection for high-end chip independent controllable R&D and production.
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Source: Purple Cow News