On April 7th, the People's Bank of China established a re loan for scientific and technological innovation and technological transformation, with a limit of 500 billion yuan, which attracted attention. Industry insiders told China News Finance that this measure is a powerful measure for the People's Bank of China to adjust and optimize structural monetary policy tools, guide financial institutions to increase support services for major strategies, key areas, and weak links. According to the official website of the People's Bank of China on April 7th, the People's Bank of China has established technology innovation and technology renovation refinancing to encourage and guide financial institutions to increase financial support for technology-based small and medium-sized enterprises, key areas of technology renovation and equipment renewal projects. The re loan amount for technological innovation and technological transformation is 500 billion yuan, with an interest rate of 1.75% and a term of 1 year. It can be extended twice, with each extension period of 1 year. The distribution targets include 21 financial institutions, including China Development Bank, policy banks, state-owned commercial banks, China Postal Savings Bank, and joint-stock commercial banks. The People's Bank of China stated that technology innovation and technology renovation refinancing is a policy continuation of the original technology innovation refinancing and equipment renewal and renovation special refinancing. In April 2022, the People's Bank of China established a technology innovation refinancing program to guide financial institutions to increase their support for technology innovation. The amount of technology innovation refinancing is 200 billion yuan, with an interest rate of 1.75%, a term of 1 year, and can be extended twice. In September 2022, the People's Bank of China established a special re loan for equipment renewal and renovation to support equipment renewal and renovation in manufacturing and other fields. The special re loan amount for equipment renewal and renovation is over 200 billion yuan, with an interest rate of 1.75% and a term of 1 year. It can be extended twice, with each extension period of 1 year. Dong Ximiao, Chief Researcher of Zhaolian, stated that the People's Bank of China has established technology innovation and technology renovation refinancing on the basis of integrating existing technology innovation refinancing and equipment renewal and renovation special refinancing. This is a powerful measure taken by the People's Bank of China to adjust and optimize its structural monetary policy tool, guiding financial institutions to increase support services for major strategies, key areas, and weak links. He stated that the interest rate for technology innovation and technological transformation refinancing is 1.75%, providing financial institutions with low-cost stable funds, which helps guide financial institutions to increase support services for technology innovation and technology-based enterprises, better do a good job in technology finance, and leverage more social capital to invest in technology innovation. At the same time, it also helps to support financial institutions in implementing the deployment of the State Council and promote a new round of large-scale equipment updates. The People's Bank of China introduced that financial institutions, based on enterprise applications, refer to the list of alternative enterprises and project lists provided by industry regulatory authorities, and follow the principle of risk-taking, make independent decisions on whether to issue loans and the conditions for loan issuance. Financial institutions apply for refinancing from the People's Bank of China, and the People's Bank of China reviews the loan ledger. For loans that meet the requirements in the list of alternative enterprises or project lists, refinancing will be granted to financial institutions at a rate of 60% of the loan principal. In Dong Ximiao's view, technology innovation and technological transformation refinancing follow a direct mechanism of "loan before loan", combining market-oriented principles with policy support. This will further enhance the support of financial institutions in serving technology innovation and innovation while preventing risks