<ul>
<li>中国银行将增加对科技和创新领域的贷款</li>
</ul>
<ul>
<li>随着房地产行业的挣扎，科技融资被优先考虑</li>
</ul>
<ul>
<li>由于中美科技紧张关系，国内融资至关重要</li>
</ul>
<p>3 月 13 日（路透社）- 中国银行计划将更多资金引导至科技和创新导向的企业，银行家表示，这是对北京承诺在整个经济中积极采用人工智能并主导新兴领域的回应。</p>
<p>他们表示，向科技领域的信贷分配转变正在进行中，并将在政府上周公布的计划下进一步加速，该计划将全面投入人工智能、半导体和先进制造等技术。</p>
<p>在全国人民代表大会的年会上，国家最高领导人承诺在未来五年内为科技和创新提供慷慨的资金和政策支持。</p>
<p>一家大型国有银行的官员告诉路透社，今年科技融资已被列为新贷款发放的优先事项，该银行正在加大对先进制造、人工智能和生物技术等领域的资金支持。</p>
<p>该银行正在研究是否推出新的低利率信贷选项，特别是为小型和微型科技初创企业设计，官员表示，由于未获授权对媒体发言，故不愿透露姓名。</p>
<p>一家位于江苏省的股份制银行的企业贷款经理表示，该银行已设定到 2026 年对高科技和创新公司的新贷款增长目标为 30%，而去年约为 20%。</p>
<p>尽管这为银行提供了一个新的贷款增长来源，因为它们在房地产行业的债务危机和经济放缓中挣扎，但分析师警告说，目标公司的初创性质以及某些情况下缺乏适当的抵押品可能会带来资产质量风险。</p>
<p>根据中央银行的数据，截至 2025 年底，对中小型科技公司的未偿贷款达到 3.63 万亿元（5280 亿美元），比去年增长 19.8%，超过整体贷款增长 13.6 个百分点。</p>
<p>相比之下，房地产贷款的未偿金额在同一时期下降了 1.6%，截至去年底为 51.95 万亿元，突显出资本从曾经主导银行资产负债表的行业的剧烈重新分配。</p>
<p>“这种转变本质上是房地产调整与政策要求相结合的结果，” Gavekal Dragonomics 的中国金融分析师张晓熙表示，并补充说，房地产行业的情况 “过于严重”，无法进行太多贷款。</p>
<p>“与此同时，监管机构正在积极推动科技融资，设定各种评估目标，因此银行确实在努力开发适合高科技公司的贷款产品，” 张说。</p>
<p>中国银行业监管机构国家金融监管局未对路透社的评论请求作出回应。</p>
<h3>政策要求</h3>
<p>中国对科技的关注反映了其需要应对老龄化劳动力和即将到来的人口危机，以及与美国在核心技术领域的激烈竞争，以及中国人工智能模型开发者取得的显著进展。</p>
<p>鉴于全球金融公司因中美紧张关系对先进中国科技公司放贷的谨慎，分析师表示，本土初创企业将不得不依赖国内融资选项，而这些选项主要由银行债权人主导。</p>
<p>在周一的单独声明中，主要国有银行中国建设银行（601939.SS）和中国银行（601988.SS）表示，它们将通过服务国家战略科技计划来履行其责任。</p>
<p>一家位于上海的中型银行的贷款官员告诉路透社，该银行已为先进技术公司设立了专门的快速审批机制。该官员拒绝提供进一步的细节。</p>
<p>“这已成为一种政治要求——如果你在这个领域表现不佳，将影响银行行长及其下属分支的绩效评估，” 该贷款官员表示，他也拒绝透露姓名。</p>
<p>科技贷款在银行贷款中占比很小——对高科技和创新公司及中小型科技公司的信贷在去年约占 8%，而房地产约占 19%，中央银行数据显示。</p>
<p>尽管科技贷款的比例较小，但一些贷款可能会变得问题重重，尤其是在产能过剩的行业，标准普尔全球评级的董事明坦表示。</p>
<p>“与传统行业相比，许多科技初创企业处于早期阶段，运营现金流为负，失败率较高，抵押品通常是知识产权，” 法国外贸银行的高级经济学家 Gary Ng 表示。</p>
<p>“这些因素使得银行难以评估其商业模式的前景和潜在的回收率。”</p>
<p>（1 美元 = 6.8696 人民币）</p>

中国银行

建设银行

工商银行

农业银行

<ul>
<li>Chinese banks to increase loans for tech and innovation sectors</li>
</ul>
<div class="lb-trans"><ul>
<li>中国银行将增加对科技和创新领域的贷款</li>
</ul>
</div><ul>
<li>Tech financing prioritized as real-estate sector struggles</li>
</ul>
<div class="lb-trans"><ul>
<li>随着房地产行业的挣扎，科技融资被优先考虑</li>
</ul>
</div><ul>
<li>Domestic funding crucial due to US-China tech tensions</li>
</ul>
<div class="lb-trans"><ul>
<li>由于中美科技紧张关系，国内融资至关重要</li>
</ul>
</div><p>March 13 (Reuters) - Chinese lenders plan to steer more money toward technology and innovation-oriented firms, bankers say, responding to Beijing’s pledge to aggressively adopt artificial intelligence throughout the economy and dominate emerging sectors.</p>
<div class="lb-trans"><p>3 月 13 日（路透社）- 中国银行计划将更多资金引导至科技和创新导向的企业，银行家表示，这是对北京承诺在整个经济中积极采用人工智能并主导新兴领域的回应。</p>
</div><p>The credit-allocation shift toward tech is well underway and is set to accelerate further under the government’s plans, unveiled last week, to go all-in on technologies from AI, semiconductors to advanced manufacturing, they said.</p>
<div class="lb-trans"><p>他们表示，向科技领域的信贷分配转变正在进行中，并将在政府上周公布的计划下进一步加速，该计划将全面投入人工智能、半导体和先进制造等技术。</p>
</div><p>At the annual meeting of the National People’s Congress, the country’s top leaders promised generous funding and policy support for tech and innovation over the next five years.</p>
<div class="lb-trans"><p>在全国人民代表大会的年会上，国家最高领导人承诺在未来五年内为科技和创新提供慷慨的资金和政策支持。</p>
</div><p>An official at a major state-owned bank told Reuters that tech financing had been made a priority for new loan issuance this year and the lender was stepping up funding to sectors including advanced manufacturing, AI and biotechnology.</p>
<div class="lb-trans"><p>一家大型国有银行的官员告诉路透社，今年科技融资已被列为新贷款发放的优先事项，该银行正在加大对先进制造、人工智能和生物技术等领域的资金支持。</p>
</div><p>The bank is studying whether to roll out new credit options with lower interest rates, especially designed for small- and micro-sized tech startups, said the official, who declined to be named as they were not authorised to speak to the media.</p>
<div class="lb-trans"><p>该银行正在研究是否推出新的低利率信贷选项，特别是为小型和微型科技初创企业设计，官员表示，由于未获授权对媒体发言，故不愿透露姓名。</p>
</div><p>A corporate lending manager at a joint-stock bank in the eastern province of Jiangsu said the lender had targeted 30% growth in new loans to high-tech and innovation companies in 2026, up from around 20% last year.</p>
<div class="lb-trans"><p>一家位于江苏省的股份制银行的企业贷款经理表示，该银行已设定到 2026 年对高科技和创新公司的新贷款增长目标为 30%，而去年约为 20%。</p>
</div><p>While this offers banks a fresh source of lending growth as they reel from a debt crisis in the property sector and a slowing economy, analysts warn the nascent nature of the targeted companies and the lack of proper collateral in some cases could pose asset-quality risks.</p>
<div class="lb-trans"><p>尽管这为银行提供了一个新的贷款增长来源，因为它们在房地产行业的债务危机和经济放缓中挣扎，但分析师警告说，目标公司的初创性质以及某些情况下缺乏适当的抵押品可能会带来资产质量风险。</p>
</div><p>Outstanding loans to small- and medium-sized tech firms reached 3.63 trillion yuan ($528 billion) at the end of 2025, up 19.8% from a year earlier and outpacing overall loan growth by 13.6 percentage points, according to data from the central bank.</p>
<div class="lb-trans"><p>根据中央银行的数据，截至 2025 年底，对中小型科技公司的未偿贷款达到 3.63 万亿元（5280 亿美元），比去年增长 19.8%，超过整体贷款增长 13.6 个百分点。</p>
</div><p>By comparison, the outstanding value of real estate loans fell 1.6% over the same period to 51.95 trillion yuan at the end of last year, underscoring a dramatic reallocation of capital away from the sector that once dominated bank balance sheets.</p>
<div class="lb-trans"><p>相比之下，房地产贷款的未偿金额在同一时期下降了 1.6%，截至去年底为 51.95 万亿元，突显出资本从曾经主导银行资产负债表的行业的剧烈重新分配。</p>
</div><p>“This shift is essentially the result of the real estate adjustment combined with policy mandates,” said Xiaoxi Zhang, China finance analyst at Gavekal Dragonomics, adding that the property sector situation was “too severe” to do much lending.</p>
<div class="lb-trans"><p>“这种转变本质上是房地产调整与政策要求相结合的结果，” Gavekal Dragonomics 的中国金融分析师张晓熙表示，并补充说，房地产行业的情况 “过于严重”，无法进行太多贷款。</p>
</div><p>“At the same time, regulators are vigorously promoting technology finance with various assessment targets, so banks are indeed working hard to develop loan products suitable for high-tech companies,” Zhang said.</p>
<div class="lb-trans"><p>“与此同时，监管机构正在积极推动科技融资，设定各种评估目标，因此银行确实在努力开发适合高科技公司的贷款产品，” 张说。</p>
</div><p>China’s banking regulator, the National Financial Regulatory Administration, did not respond to a Reuters request for comment.</p>
<div class="lb-trans"><p>中国银行业监管机构国家金融监管局未对路透社的评论请求作出回应。</p>
</div><h3>A POLICY MANDATE</h3>
<div class="lb-trans"><h3>政策要求</h3>
</div><p>China’s focus on tech reflects its need to grapple with an ageing workforce and looming demographic crisis, a fierce battle with the U.S. for supremacy in core technologies, as well as dramatic progress made by Chinese developers of AI models.</p>
<div class="lb-trans"><p>中国对科技的关注反映了其需要应对老龄化劳动力和即将到来的人口危机，以及与美国在核心技术领域的激烈竞争，以及中国人工智能模型开发者取得的显著进展。</p>
</div><p>Given the caution among global financial firms to lend to advanced Chinese tech firms due to Sino-U.S. tensions, analysts say the homegrown startups would have to rely on domestic funding options, which are dominated by bank creditors.</p>
<div class="lb-trans"><p>鉴于全球金融公司因中美紧张关系对先进中国科技公司放贷的谨慎，分析师表示，本土初创企业将不得不依赖国内融资选项，而这些选项主要由银行债权人主导。</p>
</div><p>In separate statements on Monday, major state-owned banks China Construction Bank (601939.SS) and Bank of China (601988.SS) said they would fulfill their responsibilities by serving national strategic technology initiatives.</p>
<div class="lb-trans"><p>在周一的单独声明中，主要国有银行中国建设银行（601939.SS）和中国银行（601988.SS）表示，它们将通过服务国家战略科技计划来履行其责任。</p>
</div><p>A loan officer at a mid-sized bank based in Shanghai told Reuters that the lender had set up a dedicated fast-track approval mechanism for advanced technology companies. The official declined to provide further details.</p>
<div class="lb-trans"><p>一家位于上海的中型银行的贷款官员告诉路透社，该银行已为先进技术公司设立了专门的快速审批机制。该官员拒绝提供进一步的细节。</p>
</div><p>“This has become a political mandate - if you don’t perform well in this area, it affects the performance assessments of the bank president and the branches below,” said the loan officer, who also declined to be named.</p>
<div class="lb-trans"><p>“这已成为一种政治要求——如果你在这个领域表现不佳，将影响银行行长及其下属分支的绩效评估，” 该贷款官员表示，他也拒绝透露姓名。</p>
</div><p>Tech loans account for a small portion of bank lending - credit to high-tech and innovation companies and small- and medium-sized tech firms reached about 8% last year, compared with around 19% for real estate, central bank data showed.</p>
<div class="lb-trans"><p>科技贷款在银行贷款中占比很小——对高科技和创新公司及中小型科技公司的信贷在去年约占 8%，而房地产约占 19%，中央银行数据显示。</p>
</div><p>Despite the small percentage of tech lending, some loans could become problematic, especially in industries with overcapacity, said Ming Tan, a director at S&amp;P Global Ratings.</p>
<div class="lb-trans"><p>尽管科技贷款的比例较小，但一些贷款可能会变得问题重重，尤其是在产能过剩的行业，标准普尔全球评级的董事明坦表示。</p>
</div><p>“Compared with traditional sectors, many tech startups are in the early stages with negative operating cash flows, higher failure rates and collateral that is often intellectual property,” said Gary Ng, a senior economist at Natixis.</p>
<div class="lb-trans"><p>“与传统行业相比，许多科技初创企业处于早期阶段，运营现金流为负，失败率较高，抵押品通常是知识产权，” 法国外贸银行的高级经济学家 Gary Ng 表示。</p>
</div><p>“These make it hard for banks to assess their prospects of business models and evaluate potential recovery rates.”</p>
<div class="lb-trans"><p>“这些因素使得银行难以评估其商业模式的前景和潜在的回收率。”</p>
</div><p>($1 = 6.8696 Chinese yuan renminbi)</p>
<div class="lb-trans"><p>（1 美元 = 6.8696 人民币）</p>
</div>

随着北京加大对人工智能的推动力度，中国的银行正在增加对科技行业的贷款