National catalog sets 26 indicators for technology finance
The People's Bank of China and eight government departments have jointly issued a notice establishing a national data catalog with 26 indicators to improve data sharing and financing efficiency for technology enterprises.
Eight categories for digital credit profiles
Nine central authorities led by the People's Bank of China launched the National Catalogue for Data Development and Utilization in Technology Finance Sector (Version 1.0).
The framework standardizes 26 specific data indicators across eight core categories, including enterprise lists, import and export records, investment and financing metrics, operational activities, R&D expenditures, intellectual property assets, innovation capability evaluations, and direct enterprise requirements.
Regional authorities are instructed to formulate tailored local lists while building provincial supporting information infrastructure.
Financial institutions will utilize these shared public databases to construct digital credit profiles for tech firms.
Interconnected systems and smart risk control
The directive promotes interconnectivity among existing information systems to enable joint modeling, information inquiry, and trusted data space pilots.
Local authorities are encouraged to open access to enterprise cash flow data and build industry research exchange platforms.
By analyzing capital flows along industrial chains using transaction concentration and counterparty stability metrics, financial institutions can map key supply chains and deliver targeted credit products for niche technology sectors.
Execution trumps administrative intent
Standardizing tech finance metrics removes a major valuation barrier for asset-light startups.
Yet its true impact depends on whether local bureaucracies actually share proprietary data freely.
Without operational enforcement, these indicators will remain theoretical.