China Presses on The Financial Industry to Promote Manufacturing

Following the Made in China 2025 strategy, five elite agencies of the Chinese central government published a joint policy on March 29, 2017, Guidelines of Five Agencies on Supporting the Construction of A Strong Manufacturing Country by Finance (Yin Fa (2017) No. 58) ( Guidelines), to strengthen and improve financial supports and services for manufacturing industries. The Guidelinescall for increasing credit loan supports to manufacturing industries, developing financial lease to support manufacturing companies to expand sales and exports, adequately using direct financing at capital markets, establishing and utilizing investment funds, and expanding insurance funds for manufacturing industries. The Guidelines give priority to scientific and technological innovation, transformation and upgrade, development of technology-intensive small and medium-sized enterprises, M&A and restructure, venture investment, and investing and developing overseas.