In October 2023

the Central Financial Work Conference officially established the overall tone of "promoting high-quality development of China's finance" and "accelerating the construction of a financial powerhouse". The meeting called for "finance to provide high-quality services for economic and social development"

"optimizing the structure of funding supply

and using more financial resources to promote technological innovation

advanced manufacturing

green development

and small and medium-sized enterprises". Specifically

in terms of deepening capital market reform and financial institution construction

it is mentioned that "optimizing financing structure

better leveraging the hub function of the capital market

promoting the deepening and implementation of the stock issuance and registration system

and developing diversified equity financing"

"improving institutional positioning

supporting the optimization and strengthening of large state-owned financial institutions

serving as the main force of the real economy and the ballast stone of maintaining financial stability"

and other requirements. Based on the current difficulties

high costs

and slow financing faced by small and micro enterprises and technology-based enterprises

this article draws on the practical experience of countries with more developed financial systems in supporting small and micro and technology-based enterprises

and proposes corresponding measures from four levels: national policies

banking

insurance

and capital markets.