The People's Bank of China has established a reloan for scientific and technological innovation and technological transformation with a quota of 500 billion yuan to support scientific and technological innovation, technological transformation and equipment renewal.

为贯彻中央经济工作会议和中央金融工作会议精神，做好金融“五篇大文章”，落实国务院常务会议关于推动新一轮大规模设备更新和消费品以旧换新的决策部署， The People's Bank of China has set up reloans for scientific and technological innovation and technological transformation to encourage and guide financial institutions to increase financial support for small and medium-sized technology-based enterprises and projects for technological transformation and equipment renewal in key fields. 科技创新和技术改造再贷款是对原有科技创新再贷款和设备更新改造专项再贷款的政策接续，在总结两项工具经验的基础上进行改革完善，支持金融机构提升金融服务质效，更好满足科技创新、技术改造和设备更新领域的融资需求。

The reloan amount for scientific and technological innovation and technological transformation is 500 billion yuan, with an interest rate of 1.75%, a term of one year, and can be extended twice, with each extension term of one year. 发放对象包括国家开发银行、政策性银行、国有商业银行、中国邮政储蓄银行、股份制商业银行等21家金融机构。科技创新和技术改造再贷款的设立将有利于引导金融机构在自主决策、自担风险的前提下，向处于初创期、成长期的科技型中小企业，以及重点领域的数字化、智能化、高端化、绿色化技术改造和设备更新项目提供信贷支持。

Financial institutions make independent decisions on whether to issue loans and the conditions for issuing loans based on the application of enterprises, refer to the list of alternative enterprises and project lists provided by the industry authorities, and in accordance with the principle of bearing their own risks. Financial institutions apply to the People's Bank of China for re-loans, the People's Bank of China shall examine the loan standing book, and grant re-loans to financial institutions at 60% of the loan principal for loans that meet the requirements in the list of candidate enterprises or projects.