Recently, Bank of China released the "BOC Science and Technology Innovation Integrated Customer Cultivation Plan" (hereinafter referred to as the "Integrated Cultivation Plan") in Beijing. The plan will focus on key areas, improve and build an integrated financial service model covering the entire chain and life cycle, allocate RMB 60 billion in special funds for equity and loans to support the development of high-level technological self-reliance.
It is understood that the "Integrated Cultivation Program" aims to address the full life-cycle financial needs of technology companies with growth potential by building a relay-style full-stack fund system and a collaborative mechanism integrating commercial investment banking. This will enable the integration of financial services from "fragmented" to "one-stop", the integration of the company's growth cycle from "small" to "large", and the integration of "financing" to "intellectual" and "resource" ecosystem empowerment.
It is understood that the "Connecting Cultivation Plan" will initially be piloted in five locations: Beijing, Shanghai, Jiangsu (Nanjing, Wuxi, and Changzhou), Shenzhen, and Hangzhou. A special fund of 60 billion yuan will be allocated, including 10 billion yuan in equity investment and 50 billion yuan in credit. Starting with Series A financing, the plan aims to cultivate no fewer than 100 high-quality enterprises with key core technologies, striving to foster a number of unicorns and newly listed companies, and solve a number of "bottleneck" problems. The Bank of China will follow the principle of "pilot projects first, then gradual expansion," and gradually extend the plan to qualified national science and technology innovation hubs.
Specifically, the plan will strengthen full-chain support through a "coal-loan combined fund pool." On the equity side, it will establish a full-stack fund system covering different stages, including a pioneer fund focusing on early-stage and small-scale investments, a long-term growth fund, and a cornerstone investment plan empowering overseas development. On the commercial banking side, it will provide solid support for enterprise R&D, M&A, and overseas expansion through a dual-engine approach of "localized services + international assistance." It will promote full-process collaboration through a "unified cognitive perspective," focusing on promoting "unified understanding, seamless processes, and integrated services" for equity and loans. Through mechanisms such as expert consultation and joint evaluation, it will unify the "value judgment orientation" for clients and rationally customize comprehensive equity and debt financing solutions. It will provide comprehensive protection through "dedicated supporting mechanisms," building an internal performance evaluation system oriented towards long-term benefits, optimizing due diligence exemption arrangements, and encouraging frontline staff to "dare to invest and lend." It will create a dedicated service team that "understands technology and finance," ensuring the team "keeps up with enterprise growth and can meet technological needs." Finally, it will introduce more market resources through an "innovation ecosystem alliance." The Bank of China has formed an innovation ecosystem alliance with various partners, including large state-owned investment institutions, national funds, large insurance institutions, leading venture capital firms, and state-owned capital operation companies, to build a richer platform for enterprises to connect with financial and non-financial resources, truly aligning with the business development cycle of enterprises.
The Bank of China has formed an innovation ecosystem alliance with various partners, including large state-owned investment institutions, national funds, large insurance institutions, leading venture capital firms, and state-owned capital operation companies, to build a richer platform for enterprises to connect with financial and non-financial resources, truly aligning with the business development cycle of enterprises.
The "Integrated Cultivation Program" will closely align with the deployment requirements outlined in the "15th Five-Year Plan" recommendations, focusing on key areas such as integrated circuits, artificial intelligence, low-carbon energy, and precision medicine. Priority support will be given to enterprises participating in major national science and technology projects, winning national science and technology awards, achieving excellent innovation scores, receiving investment from national-level funds, being recommended by the "Specialized, Refined, and Innovative" initiative, and receiving support from ministerial-level pilot-scale platforms. Enterprises in pilot regions can contact their local Bank of China Science and Technology Finance Center for specific details and to explore business cooperation opportunities.
Bank of China will take the launch of the "Integrated Cultivation Plan" as an opportunity to continuously create a replicable and scalable integrated science and technology financial service model, help science and technology innovation enterprises navigate cycles and achieve leaps, and truly consolidate the foundation for high-quality development with high-level technological self-reliance and self-strengthening, injecting more innovative momentum into creating a new situation of Chinese-style modernization.
