Li Dianxun Attends Provincial Meeting on Local Financial Innovation Initiatives
Grasping Reform Direction, Grounded in Functional Positioning
Promoting Local Financial Innovation Initiatives for Greater Results with a Scientific and Pragmatic Approach
On August 5, the provincial government held a meeting to advance the series of local financial innovation initiatives, reviewing progress since the beginning of the year and outlining key tasks for the next phase.
After listening to reports from relevant departments, as well as statements and suggestions from local governments, financial institutions, and enterprise representatives,
Li Dianxun noted
Since the beginning of the year, all regions, departments, and relevant units have conscientiously implemented the provincial government’s work arrangements, steadily advancing local financial innovation initiatives. Top-level design has been continuously improved, pilot reforms have progressed steadily, and multiple positive effects have gradually emerged. These efforts have effectively alleviated financing difficulties for tech enterprises, small and medium-sized businesses, innovation teams, startups, as well as individual farmers and agricultural production organizations. They have also expanded financial institutions’ channels and methods for serving the real economy, encouraged market entities to prioritize innovation and standardized management, and fostered a societal value system emphasizing that “credit has value,失信 incurs losses, and lack of trust is unsustainable,” creating a positive atmosphere for credit system development.
Li Dianxun emphasized
It is essential to accurately grasp the complex and profound changes in domestic and international development trends, recognize the critical role of technology, finance, and the rule of law in supporting high-quality economic and social development, adhere to the fundamental direction of financial reform and innovation—”light assets, broad credit, and convenience”—and clarify the three key functional roles of local governments in financial innovation: “equity investment for guidance, credit enhancement for debt financing, and fostering public fundraising in multi-level capital markets.” Greater efforts and more concrete measures are needed to achieve more substantial results in local financial innovation initiatives.
Li Dianxun emphasized
In “equity investment guidance,” efforts should focus on expanding scale, improving quality, and delivering results by restructuring government-guided fund systems. By refining mechanisms for selecting management teams, decision-making processes for project investments, and scientific evaluation methods, more private capital can be leveraged to form a comprehensive “venture capital + industrial investment” fund cluster covering the entire process from “0 to 1, 1 to 2, and 2 to N.” This will more effectively support the commercialization of scientific achievements, entrepreneurship among university faculty and students, and the cultivation of emerging industries.
Li Dianxun emphasized
In “credit enhancement for debt financing,” the focus should be on unlocking potential and expanding opportunities by leveraging both data-driven and fiscal credit enhancement. Strengthening data support, reforming credit systems, improving risk-sharing mechanisms between fiscal and financial sectors, and enhancing policy communication and product design will further expand knowledge-value credit loans for tech enterprises, commercial-value credit loans for SMEs, and credit loans for farmers and rural assets. Financial institutions should also be encouraged to innovate financial products and services, promoting light-asset, broad-credit, and convenient financing solutions to better meet market entities’ debt financing needs.
Li Dianxun emphasized
In “fostering public fundraising in multi-level capital markets,” the goal should be to increase the number of listed companies and asset securitization. Enhanced policy communication, professional training, IPO guidance, project roadshows, and matchmaking services will help more enterprises access domestic and international capital markets and achieve asset securitization. By introducing financial capital and management resources, a favorable environment can be created for the progressive cultivation, innovation, and growth of market entities.
Li Dianxun urged
All regions, departments, and relevant units in the province must strengthen coordination, balancing “bold financial innovation with effective risk prevention.” Continuous tracking, dynamic assessment, and ongoing refinement of reform measures are necessary to ensure local financial innovation initiatives yield greater results. These efforts will better serve Hubei’s high-quality economic and social development and contribute to accelerating the province’s rise as a key strategic hub in central China.
