On February 21st, the People's Government of Guangdong Province issued the Implementation Opinions on Accelerating the Deep Integration of Science and Technology Finance to Assist Technological Enterprises in Innovative Development (hereinafter referred to as the Implementation Opinions). These 15 policy measures, also known as the "Science and Technology 15 Measures," were first publicly mentioned at the recently held Provincial High Quality Development Conference, covering areas such as venture capital, bank credit, financing guarantees, technology insurance, and cross-border finance. According to the Implementation Opinions, Guangdong will increase its efforts in reform and innovation in the field of science and technology finance, and actively strive for relevant national pilot projects on financial support for science and technology innovation. The Implementation Opinions on Promoting Early Investment and Small Investment in Hard Technology by Venture Capital Institutions aim to create a comprehensive service system that provides diversified, all-round, and relay financial support for technology-based enterprises. It explicitly proposes to promote venture capital institutions to invest in early, small, and hard technology, and guide social capital to invest more in key technology fields and start-up technology-based enterprises in Guangdong. Encourage social capital to collaborate with national and provincial laboratories, national technology innovation centers, universities, research institutes, etc., using a "public welfare funding+equity investment" model to support original core technologies, cutting-edge disruptive technology breakthroughs, and their transformation into real productivity. At the same time, it is necessary to broaden the sources of funds and exit channels for entrepreneurial investment. Under the premise of compliance with laws and regulations, controllable risks, and commercial sustainability, support the investment function subsidiaries and wealth management subsidiaries, securities companies, insurance institutions, trust companies, etc. of commercial banks to provide long-term financial support for entrepreneurial investment through investment or the development of corresponding long-term investment products. To improve the convenience level of cross-border investment and financing in the field of technology, Guangdong will rely on major cooperation platforms in the Guangdong Hong Kong Macao Greater Bay Area, such as Hengqin, Qianhai, Nansha, and Hetao, to promote complementary, interconnected, and interconnected technology and finance among the three regions. At the same time, the Implementation Opinions emphasize the need to attract venture capital institutions and high-end talents to develop in Guangdong, encourage cities with conditions to provide appropriate subsidies to newly registered venture capital institutions and their senior management personnel in Guangdong according to certain conditions, and attract domestic and foreign venture capital institutions and talents to settle in Guangdong. Intensify efforts to introduce high-end talents for entrepreneurial investment, and eligible talents will enjoy relevant preferential policies in accordance with regulations. In the Implementation Opinions, it is repeatedly mentioned that technology finance should cover the entire lifecycle of enterprises. We should encourage banking and financial institutions to accelerate the development of full lifecycle financial services for technology-based enterprises around the innovation chain, industry chain, and talent chain. For start-up technology-based enterprises, on the basis of risk prevention and control, we will increase credit loan investment, strive to improve the "down loan rate" of technology-based enterprises, and standardize the development of "technology talent loans"; For growing technology-based enterprises, in combination with the need to expand production, we will increase project loan investment and standardize the development of supply chain finance, intellectual property pledge loans, and other businesses; For mature technology-based enterprises, strengthen comprehensive financial services and encourage the use of merger and acquisition loans to support market-oriented mergers and acquisitions. At the same time, we will guide banking and financial institutions to expand their technology credit scale, encourage them to incorporate service technology innovation into their strategic planning, and strive to achieve a year-on-year growth rate of technology enterprise loans not lower than that of various loans during the 14th Five Year Plan period