On December 23, 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.
Differentiated service integrated cultivation
The “Connected Cultivation Program” aims to address the full lifecycle financial needs of high-potential technology companies by building a relay-style full-stack fund system and an integrated commercial investment banking mechanism. This will enable financial services to move from “fragmented” to “one-stop”, from “small” to “large” in the company’s growth cycle, and from “financing” to “intellectual support” and “resource financing” ecosystem empowerment.
Simplifying complexity and achieving one-stop service, enterprises only need to contact a dedicated team from the Bank of China. The Bank of China will coordinate various high-quality resources, including equity, loans, and bonds, both within and outside the group, to achieve seamless financial services. A service team familiar with the client will always be on hand to avoid service interruptions or duplicate access.
From small to large, the Bank of China provides relay-style support. It will negotiate comprehensive financial service packages covering equity, loans, and investment banking with enterprises in advance, implementing phased and tiered development over a 3-5 year cycle to ensure that financial support is proactively adapted to the enterprise's operational pace. From the outset, enterprises will have a clear understanding of the financial products and services available at different stages of development, and the Bank of China will continue to provide strong support throughout the enterprise's growth.
Tailoring strategies to each client's needs, Bank of China emphasizes precise matching. It will provide enterprises with comprehensive financial services, ranging from financing to intellectual and resource support. In the early stages, it will offer equity investment and credit support to assist in R&D and the commercialization of scientific and technological achievements. During the growth stage, it will connect enterprises with supply chain partners, assist in market expansion, and strengthen their self-sustaining capabilities. In the mature stage, it will provide IPO guidance, assist in finding M&A targets, and support overseas expansion. Through precise follow-up throughout the entire process, it will ultimately help enterprises navigate economic cycles and achieve long-term stable growth.
Pilot first, then gradually expand
The "Connecting Cultivation Program" will initially be piloted in five locations: Beijing, Shanghai, Jiangsu (Nanjing, Wuxi, and Changzhou), Shenzhen, and Hangzhou. A dedicated 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 program aims to cultivate at least 100 high-quality enterprises with key core technologies, striving to foster a number of unicorns and newly listed companies, and solve a number of critical technological bottlenecks. The Bank of China will follow the principle of "pilot projects first, then gradual expansion," and gradually extend the program to qualified national science and technology innovation hubs.
Strengthening end-to-end support through a "coal-loan combined fund pool." On the equity side, a full-stack fund system covering different stages has been established, including a pioneer fund focusing on early-stage and small-scale investments, a long-term growth fund to support growth, and a cornerstone investment plan to empower overseas development. On the commercial banking side, a dual-engine approach of "localized services + international support" provides solid support for enterprise R&D, M&A, and overseas expansion.
Promote end-to-end collaboration through a "unified cognitive perspective." Focus on achieving "unified understanding, seamless process, and integrated service" in equity and debt financing. Through mechanisms such as expert consultation and joint evaluation, unify the "value judgment orientation" for clients and rationally customize comprehensive equity and debt financing solutions.
We provide comprehensive support through a dedicated supporting mechanism. We have established an internal performance evaluation system oriented towards long-term benefits, optimized due diligence exemption arrangements, and encouraged frontline staff to be "bold and willing to invest and lend." We have built a dedicated service team that "understands technology and finance," ensuring that the service team "keeps up with the company's growth and can meet its technological needs."
The "Innovation Ecosystem Alliance" will bring in more market resources. The Bank of China, together with various partners including large state-owned investment institutions, national funds, large insurance institutions, leading venture capital firms, and state-owned capital operation companies, has formed an Innovation Ecosystem Alliance to build a broader and richer platform for enterprises to connect with financial and non-financial resources, truly aligning with the business development cycle of enterprises.
Win-win cooperation between banks and enterprises
The "Integrated Cultivation Plan" will closely follow the deployment requirements put forward in the "15th Five-Year Plan" recommendations, focusing on key areas such as integrated circuits, artificial intelligence, low-carbon energy, and precision medicine. It will give priority to supporting enterprises that participate in major national science and technology projects, win national science and technology awards, have excellent innovation points, receive investment from national-level funds, are recommended by the "Specialized, Refined, Unique and Innovative" proactive discovery mechanism, and receive support from ministerial-level pilot-scale platforms.
Enterprises in the pilot areas can contact the local Bank of China Technology Finance Center to learn about the specific situation and to carry out business cooperation.
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.
