Gu Xiaomin Discusses the Science and Technology Finance Path for the Yangtze River Delta International Science and Technology Innovation Center

On September 15, Shanghai — Shanghai Municipal Government Counselor and Chief Expert of the Shanghai Financial Technology Research Center Gu Xiaomin recently gave an exclusive interview to China News Service, offering an analysis of the financial and technological issues involved in building Shanghai’s (Yangtze River Delta) International Science and Innovation Center. Gu Xiaomin believes that the “expansion” of the Yangtze River Delta International Science and Innovation Center reflects a shift from singlepoint breakthroughs to regional coordination, and that financial support is an important condition for promoting the integration of R&D, industry, and ecosystem development. She pointed out that while the Yangtze River Delta currently has a high concentration of financial resources, issues such as administrative division fragmentation, the cost of crossregional regulatory coordination, and insufficient benefitsharing mechanisms are still affecting the crossregional flow of funds. When discussing international experience, Gu Xiaomin analyzed the practices of the United States, Germany, and the United Kingdom, including leveraging social capital through guarantee mechanisms, division of labor and coordination between policy banks and commercial banks, and expanding sources of earlystage science and technology investment through credit guarantees and tax incentives. She suggested that the Yangtze River Delta could explore crossregional risk compensation funds, coordinated efforts between policy banks and commercial banks, as well as more inclusive tax support and risksharing mechanisms. She also emphasized that relevant experience cannot be simply copied, and that in the long run it is still necessary to improve crossregional regulatory coordination and benefitsharing mechanisms, so that financial resources can better serve technological innovation more smoothly.