Seven departments: promote the industry to accelerate towards the mid-to-high end and prevent "involution" competition

On August 5th, the People's Bank of China and seven other departments jointly issued the "Guiding Opinions on Financial Support for New Industrialization". The "Opinions" require that the coordination of industrial policies and financial policies be strengthened to provide high-quality financial services for promoting new industrialization and accelerating the development of new-quality productive forces. Adhere to classified policies, support and control, and promote the industry to move towards the mid-to-high end to prevent "involution" competition. By 2027, the financial system that supports the high-end, intelligent and green development of the manufacturing industry will be basically mature, and the adaptability of services will be effectively enhanced.