Guangzhou Encourages Financial Institutions to Create Specialized Credit Products for Digital Transformation and AI R&D Companies

Deep News
03/26

On March 26, the General Office of the Guangzhou Municipal People's Government released an implementation plan to promote the high-quality development of the artificial intelligence industry in Guangzhou. The plan proposes strengthening financial support. Through a coordinated financial mechanism combining "venture capital + technology credit + fiscal subsidies," a long-term investment tracking and service mechanism will be established to ensure that high-quality enterprises receive appropriate funding support at different stages of development, forming an investment system characterized by "early-stage investment, follow-on investment, and continuous investment." The plan also aims to drive the development of the artificial intelligence industry ecosystem. An artificial intelligence industry investment fund will be set up, focusing on key core areas of the industrial chain and implementing a strategy of "investing early, investing small, investing long-term, and investing in hard technology" to form patient capital that accompanies enterprises throughout their growth. Banks and other financial institutions are encouraged to develop specialized credit products tailored for enterprises undergoing digital and intelligent transformation and those engaged in artificial intelligence research and development, while increasing credit support for artificial intelligence companies.

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