MOST and the China Merchants Bank (CMB) inked the Agreement on Finance for S&T Innovation in Beijing on August 25, 2008. The cooperation principle is that MOST encourages loan applications by hi-tech enterprises, CMB reviews applications independently, diverse platforms play a full role, and all procedures follow market rules. The agreement forges a synergy between S&T policies and commercial loans, breaks fresh ground in the banking sector, and is expected to provide momentum to China’s hi-tech industry.

 

WAN Gang, Vice Chairman of the Chinese People’s Political Consultative Conference (CPPCC) and Minister of MOST and MA Weihua, Governor of CMB delivered speeches before MOST Vice Minister LIU Yanhua and CMB Vice Governor ZHANG Guanghua signed the agreement.