Three departments: Increase the loan investment in science and technology innovation and technological transformation, further supporting equipment upgrades.

Recently, the People's Bank of China, the National Development and Reform Commission, and the Ministry of Finance jointly issued the "Notice on Expanding the Injection of Loans for Technological Innovation and Technological Transformation and Further Supporting Equipment Updates." The notice focuses on optimizing policies and measures for financial services in technological innovation and equipment updates, throughout the entire chain. It expands the scope of support for technological innovation and equipment updates, including privately-owned small and medium-sized enterprises with high levels of research and development investment in the re-lending policy support area, and expands the range of loan support for technology transformation and equipment updates to 14 sectors including electronic information, artificial intelligence, facility agriculture, and consumer commercial facilities. It aims to improve the quality and efficiency of loan services, especially for enterprises purchasing artificial intelligence equipment and software services, to promote the development of "artificial intelligence + industry." It also aims to optimize the distribution and management of re-lending, and improve policy implementation efficiency. In the following steps, the People's Bank of China, the National Development and Reform Commission, and the Ministry of Finance will work with relevant departments to fully implement the measures in the notice, strengthen monitoring and coordination, guide financial resources to effectively support technological innovation and equipment updates, and create a favorable financial services environment for industrial transformation and upgrading.