A staff member operates a machine to make dentures at an industrial park in Rizhao Hi-Tech Industrial Development Zone of Rizhao City, east China's Shandong Province, June 29, 2023. (Xinhua/Guo Xulei)
BEIJING, July 28 (Xinhua) -- China will funnel more capital into the real economy and innovation-oriented sectors to achieve self-reliance in science and technology, according to the People's Bank of China.
The country will deepen the supply-side structural reform of the financial sector and build a financial service system better suited to the financing needs of various types of technology-based enterprises, Zhang Qingsong, deputy governor of the central bank, told a press conference Thursday.
Such enterprises saw fast loan expansions in the first half of the year, data from the bank showed. During the period, middle and long-term outstanding loans of businesses in the high-tech manufacturing industry stood at 2.5 trillion yuan (about 350.8 billion U.S. dollars), up 41.5 percent year on year. Outstanding loans to small and medium-sized enterprises majoring in science and technology reached 2.36 trillion yuan, up 25.1 from a year earlier. ■
