Today, the central bank released a bombshell news. At around 11 a.m. on April 7, the central bank suddenly announced that the re-lending amount for scientific and technological innovation and technological transformation was as high as 500 billion yuan, with an interest rate of only 1.75% and a term of 1 year, which could be extended twice for 1 year. This policy aims to support the country's scientific and technological innovation and technological transformation, and inject new impetus into economic development.
It is understood that the re-loan will be issued to 21 financial institutions, including the China Development Bank, policy banks, state-owned commercial banks, Postal Savings Bank of China, and joint-stock commercial banks, covering a wide range. The objects of re-lending tools are very clear, one is technology-based small and medium-sized enterprises, and the other is technological transformation and equipment renewal projects in key areas. This is a continuation and upgrade of the original special re-lending policy for scientific and technological innovation and equipment renovation, which can be called a "targeted interest rate cut".
It is worth noting that this 500 billion yuan is only a one-year quota, but since it can be extended twice, it can actually be "released" for three years, with a total of 500 billion yuan per year, totaling 1.5 trillion yuan! This figure is staggering, and it shows that the central bank attaches great importance to scientific and technological innovation and is firmly determined to do so.
Generally speaking, the introduction of such policies by the central bank often leads to the active participation of social capital. According to the calculation of the leverage effect of 1:3, the re-lending policy is expected to drive an investment scale of 5~6 trillion yuan, which is of great significance for promoting scientific and technological innovation and technological transformation.
Industry experts said that this policy will have a positive impact on small and medium-sized technology-based enterprises and technological transformation projects in key areas. On the one hand, it will provide more financing channels for small and medium-sized technology-based enterprises, which will help alleviate their financial pressure and promote them to accelerate the pace of innovation; on the other hand, it will also provide strong financial support for technological transformation and equipment renewal projects in key areas to help industrial upgrading and transformation.
In addition, this policy will also have a positive impact on financial markets. First, it will guide financial institutions to increase investment in the field of scientific and technological innovation and technological transformation, and promote the tilt of financial resources to the real economy; second, it will lead to the participation of social capital, further activate market vitality, and promote stable economic growth.
Of course, the market has responded enthusiastically to this policy, but there are also some different voices. Some analysts believe that while the policy will help promote scientific and technological innovation and technological transformation, it may also lead to some inefficient projects being funded and resulting in a waste of resources. Therefore, in the process of implementation, it is necessary to strengthen the selection and supervision of projects to ensure that funds are invested in areas with real potential and benefits.
In general, the re-lending policy for scientific and technological innovation and technological transformation issued by the central bank this time has undoubtedly injected new vitality into economic development. It not only provides financial support for small and medium-sized technology-based enterprises and technological transformation projects in key areas, but also brings new opportunities to the financial market. In the future, with the in-depth implementation of policies and the positive response of the market, we have reason to believe that scientific and technological innovation and technological transformation will become an important engine to promote high-quality economic development.
At the same time, we should also note that the introduction of policies is only the first step, and the key lies in implementation and supervision. The benefits of the policy can only be maximized by ensuring that funds are invested in projects of real value through strict screening and supervision mechanisms. Therefore, we hope that the relevant departments can strengthen cooperation to jointly promote the smooth implementation of this policy and inject more positive energy into economic development.