Wang Weidong, vice president of CDB: it is an important mission of financial institutions to guide more funds into the field of scientific and technological innovation.

[Wang Weidong, vice president of CDB: it is an important mission of financial institutions to guide more funds into the field of scientific and technological innovation]-- Wang Weidong, vice president of the China Development Bank, pointed out at the 14th Lujiazui Forum today that financial support for scientific and technological innovation is an important requirement of Chinese-style modernization. Scientific and technological innovation has the advantages of high cost, long cycle and high risk. From scientific and technological research and development to the transformation of achievements and then to market development, a large amount of capital investment is needed in each stage. As the hub of resource allocation, finance not only provides financial support for scientific and technological innovation, but also provides financial tools to avoid innovation risks, which is an important guarantee of scientific and technological innovation. Therefore, it is an important mission of financial institutions to continuously improve the mechanism of financial support for scientific and technological innovation, build an active financial market, smooth financing channels and a good financial environment, and guide more funds to flow into the field of scientific and technological innovation. (Shi Sitong, reporter of the Financial Associated Press)