At the Lujiazui Forum held on June 17, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), announced support for Beijing Haidian, Shanghai Pudong, Guangdong Shenzhen, Jiangsu Suzhou and Zhejiang Hangzhou in building the first five Tech-Finance Practice Models.
This initiative aims to strengthen central-local coordination, smooth the implementation mechanism for capital market innovation policies, identify and support more first-of-kind, first-batch and demonstration cases that align with policy intent, and foster a virtuous cycle between capital market development and high-quality local economic growth.
Photo courtesy of Haidian District Committee Publicity Department
As the birthplace of Zhongguancun and the core area of Beijing International Sci-Tech Innovation Center, Haidian's selection as one of the first -batch pilots means that sci-tech enterprises in the region will be the first to benefit from the dividends of capital market inclusiveness reforms, gaining more tangible and accessible institutional conveniences in areas such as listing cultivation, sci-tech bond issuance, and mergers and acquisitions, accelerating their journey from "laboratory" to "exchange”.
"Being selected as one of the first five practice models is an affirmation from national regulatory authorities of Haidian's deep cultivation of sci-tech finance, and also carries expectations for Haidian to continue serving as a 'test field' for reform”, said a relevant official from the Haidian District Financial Office.
Haidian has the confidence to serve as a reform "test field": the region boasts a robust economic volume, abundant innovation resources, and has gathered the nation's top science and education resources—37 universities, 96 national-level research institutions, and 692 academicians of the Chinese Academy of Sciences and Chinese Academy of Engineering. It is home to 263 listed companies and 435 equity investment management institutions.
From 2023 to 2025, Haidian added 29 listed companies, ranking first in the city. More than 20 "first shares in their respective industries" from Haidian, including 4Paradigm, Horizon Robotics, HyperStrong and Zhipu Huazhang, have entered the capital market. In the first half of 2026, Zhipu Huazhang listed on the Hong Kong Stock Exchange as the "world's first large model stock”, with its market capitalization approaching HKD 620 billion on the first trading day, and the early investment by Haidian state-owned assets yielded unrealized gains exceeding RMB 11 billion.
"First-of-kind, first-batch" cases are landing intensively, and "first shares in their respective industries" are emerging in batches. Beijing Haidian is the source of innovation, and also the place where capital recognizes innovation.
"In the first quarter of this year, equity financing for Haidian enterprises totaled approximately RMB 44.4 billion, accounting for 48% of the citywide total. In terms of credit innovation, the Zhongguancun Sci-Tech Finance Service Center has been upgraded to Version 2.0, with the number of resident banks expanding from 8 to 17, having cumulatively processed 535 innovative business transactions worth RMB 8.9 billion. Eleven portfolio companies of sci-tech growth funds obtained approximately RMB 2.4 billion in bank credit lines, with the investment-loan linkage closed loop initially taking shape”, introduced a responsible official from the Haidian District Financial Office. Haidian's full-cycle financial service system continues to improve; to date, it has 263 listed companies, maintaining its top position citywide in total volume.
The latest data shows that in the first quarter of this year, the value -added growth rate of Haidian District's financial industry reached 12.3%, 5 percentage points higher than the GDP growth rate. During the "15th Five-Year Plan" period, Haidian will strive to attract no less than RMB 100 billion in patient capital and 50 high-caliber institutions, maintaining its citywide lead in both the quantity and quality of newly listed companies. It will continuously deepen central-local coordination, constantly promote the landing of first-of-kind and first-batch capital market policy innovations, build a regional capital market service ecosystem where policy dividends flow directly to enterprises, listing cultivation meets demand directly, and financing tools are diversely adapted, providing practical pilots for the nation that are tangible, accessible and replicable, and better empower sci-tech self-reliance and strength with the "living water" of finance.
