BEIJING, April 17 (Xinhua) -- China will enhance financial services for manufacturing sector to press ahead with new industrialization, reported Xinhua Finance on Tuesday.
Chinese regulators including the National Administration of Financial Regulation (NAFR) proposed in a Tuesday-issued circular to focus on key tasks of new industrialization in strengthening related financial services for manufacturing sector.
The circular demands stronger funds support to help cultivate and grow strategically emerging industries, in particular the IT, artificial intelligence, the Internet of Things, the Internet of Vehicles, biotechnology, new materials, high-end equipment, and aerospace.
The circular requires optimizing financial supply to foster foreign trade for manufacturing sector and cementing export credit insurance guarantee to further spur "going global" of enterprises in industries including automobile, home appliances, machinery, aviation, shipping, and maritime engineering equipment.
The circular also encourages insurance capital to pump long-term and stable funds into strategically emerging industries via multiple ways such as bond investment, direct equity investment, private equity funds, venture capital funds, and insurance asset management products.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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