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li yunze, director of the state administration of financial supervision and administration (photo by teng han of the paper)

on september 24, li yunze, director of the state financial supervision and administration bureau, stated at a press conference held by the state council information office that in order to consolidate and enhance the ability of large commercial banks to operate and develop steadily, and better play the role of the main force in serving the real economy.the country plans to increase the core tier-one capital of six large commercial banks, and will implement it in an orderly manner in accordance with the idea of ​​overall planning, phased and batched implementation with one policy for each bank.the financial supervision administration will continue to urge large commercial banks to improve their refined management and strengthen their ability to develop high-quality under capital constraints. at present, indirect financing still occupies a dominant position in my country's total social financing, which means that it is necessary to find a development path for science and technology finance with chinese characteristics, especially for science and technology investment.in the early stage, the financial asset investment companies under large commercial banks have carried out equity investment pilot projects in shanghai, explored paths, accumulated experience, and trained teams, and now have the conditions to expand the pilot projects.

li yunze revealed that according to the relevant arrangements of the state council, in order to effectively play the leading and driving role of the pilot and encourage the development of venture capital, the financial regulatory bureau intends to take the following three measures to promote it. first, expand the scope of pilot cities. the financial regulatory bureau will work with relevant departments to study the expansion of the pilot scope from the original shanghai to 18 large and medium-sized cities with active scientific and technological innovation, such as beijing. second, relax restrictions, appropriately relax the restrictions on the amount and proportion of equity investment, increase the proportion of on-balance sheet investment from the original 4% to 10%, and increase the proportion of investment in a single private equity fund from the original 20% to 30%. third, optimize the assessment, guide relevant institutions to implement the requirements of due diligence exemption, and establish and improve long-term differentiated performance assessment. in the next step, the financial regulatory bureau will summarize experience in a timely manner, continue to study the expansion of the scope of pilot cities, and continuously optimize supporting policies to actively promote more projects to land as soon as possible.