More effective sci-tech financing urged

Expert: 'Mismatch' exists to some extent between funding tools and innovation sector

China is expected to improve the design and implementation of policy measures to boost financing of innovation-oriented science and technology enterprises, particularly by utilizing non-loan financing and patient capital, in order to accelerate the development of new quality productive forces, experts said.

That is crucial for the country to strengthen its position in global industrial, supply and value chains, as it faces containment from some countries in high-tech areas, they said.

Zhang Xiaohui, vice-president of the China Society for Finance and Banking, said sci-tech innovation could significantly enhance the overall strength of an economy. It determines whether the country can avoid the so-called middle-income trap and play a leading role in the development of international standards.