On August 20, Minister WAN talked with LIU Mingkang, Chairman of the China Banking Regulatory Commission (CBRC), about financing for hi-tech small-and medium-sized enterprises.

WAN noted that the combination of S&T and finance is a future trend, and more financial capital should be introduced to apply S&T in the market.

MOST and CBRC will establish a cooperation mechanism in the future, and use their respective strengths in encouraging banks to enhance financial support for innovation. Pilot work will be conducted to create favorable climate for financing.