On February 20, the China Association for Science and Technology (hereinafter referred to as CAST) announced at the Innovation China Conference 2023 that a sub program of Innovation China financial partnership was officially inaugurated. According to the program, financial partners including the Postal Savings Bank of China (hereinafter referred to as PSBC) will rely on the platform of Innovation China to provide sci-tech enterprises with exclusive financial products and comprehensive financial services, and promote high-quality development of pilot cities (innovation parks). PSBC’s Vice President Du Chunye was invited to attend the launch ceremony of the Innovation China financial partnership program.

Focusing on the needs of the enterprises that use special and sophisticated technologies to produce novel and unique products and sci-tech enterprises for financing and financing trust, wealth management, payment and settlement, account management, capital market, consultation and matchmaking services, PSBC has elaborately developed five major product and service lines which include financing products in wide varieties, wealth management products with distinctive features, capital settlement products of all assortments, and customized financial products integrating investment and commerce, striving to provide full-chain and life-cycle services for the above-mentioned enterprises. By the end of 2022, PSBC had served 54,000 such enterprises, up 25 percent compared with the previous year-end, with a loan balance of nearly 240 billion yuan (about 34.6 billion US dollars), up 43 percent over the end of last year.

In the next step, PSBC, giving full play to its advantages of network, capital and expertise, will carry out in-depth cooperation with CAST, take the initiative in strengthening communication with CAST’s branch associations across the country, provide high-quality financial services for sci-tech parks, enterprises, and talents based on the platform of Innovation China, and promote the transfer and implementation of high-quality sci-tech projects. In this way, PSBC will vigorously support the development of local industries, and help build a modern industrial system that promotes coordinated development of the real economy with technological innovation, modern finance and human resources.