Pan Xiaodong, Ministry of Science and Technology: By the end of 2025, the balance of loans for technology-oriented small and medium-sized enterprises will reach 3.63 trillion yuan.

Pan Xiaodong, a member of the Party Group of the Ministry of Science and Technology and Secretary-General, said at the State Council's regular policy briefing on the 27th that by 2025, the Ministry of Science and Technology will promote greater support for scientific and technological innovation through bank credit. The size of refinancing for scientific and technological innovation and technological transformation will increase to 1.2 trillion yuan, with interest rates lowered to 1.25% and the scope of support further expanded. The implementation of the "Innovation Credit System 2.0" and the Science and Technology Innovation Special Guarantee Program have been synchronized, with 26 banks signing contracts with enterprises for over 390 billion yuan, significantly improving the access to financing for enterprises. By the end of 2025, the balance of loans to technology-based small and medium-sized enterprises reached 3.63 trillion yuan, a year-on-year increase of 19.8%.