New Chinese financial guidelines focus on tech and green growth

China also aims to strengthen the multi-tiered old-age insurance system.

China has issued new guidelines to accelerate the development of its financial sector, focusing on five major areas: technology finance, green finance, inclusive finance, pension finance, and digital finance, reported official state news agency Xinhua News Agency.

The General Office of the State Council said the guidelines aim to strengthen financial services to support the real economy, aligning financial policies with technology, industry, taxation, and fiscal measures. 

The guidelines call for stronger financial support for major national scientific and technological projects and tech-focused small and medium-sized enterprises (SMEs). Financial assistance will also be directed toward green development and low-carbon transition initiatives.  

Additionally, the government plans to build a multi-tiered and broad-based financial system that offers optimised products and services for MSMEs, private businesses, rural development, and social welfare sectors.  

In pension finance, the government aims to expand financial support for the silver economy and strengthen the development of a multi-tiered old-age insurance system to address the country's aging population.