On August 5, the People's Bank of China, the Ministry of Industry and Information Technology, the National Development and Reform Commission, and five other departments jointly issued "Guiding Opinions on Financial Support for New-Type Industrialization". It proposes supporting the fostering, growth and expansion of emerging industries and the forward-looking layout of future industries. Eligible enterprises in emerging industries such as intelligent (connected) vehicles, new energy, new materials, and cyber and data security will be supported in accessing financing through multi-level capital markets. Adhering to targeted policies with differentiated support and regulation, efforts will be made to promote industries to accelerate their upgrade to the medium-high end and prevent "involution-style" competition. View Details >