The Ministry of Science and Technology, the China Banking and Insurance Regulatory Commission, and other four departments jointly issued the "Several Opinions on Accelerating the High-Quality Development of Science and Technology Insurance to Strongly Support High-Level Scientific and Technological Self-Reliance and Strength."

On March 2nd, the National Financial Regulatory Administration released a statement. The Ministry of Science and Technology, the China Banking and Insurance Regulatory Commission, the Ministry of Industry and Information Technology, and the National Intellectual Property Administration jointly issued the “Several Opinions on Accelerating the High-Quality Development of Science and Technology Insurance to Strongly Support High-Level Scientific and Technological Self-Reliance and Strength” (hereinafter referred to as the “Science and Technology Insurance Opinions”).

The “Science and Technology Insurance Opinions” adhere to the overall principles of “government guidance, market operation, coordinated promotion, and risk prevention.” They aim to accelerate the development of a science and technology insurance system compatible with technological innovation, establish an insurance product and service system covering the entire innovation chain and cycle, and increase support for major national scientific and technological projects and tech-based small and medium-sized enterprises. The policy measures are proposed from six aspects: strengthening insurance coverage for major national tech projects, tech SMEs, key areas, as well as services for science and technology insurance products, insurance fund investments, and supervision.

Focusing on “who to protect, what to insure, and how to insure,” the Opinions concentrate efforts in five areas. They establish a national coordination mechanism for major technological breakthroughs in science and technology insurance, enhance insurance services for key regions such as Beijing (Jing-Jin-Ji), Shanghai (Yangtze River Delta), and the Guangdong-Hong Kong-Macau Greater Bay Area, and support major national scientific and technological tasks. For tech SMEs, they promote convenient insurance products, expand coverage, and provide flexible insurance solutions for scenarios like pay-after-use of scientific and technological achievements. In key fields and critical links of technological innovation—such as full lifecycle services for enterprises, “going global” strategies for tech companies, talent, intellectual property, cybersecurity, R&D, results transformation, and industrialization—they aim to break through difficulties and improve quality and coverage. They also focus on innovation in insurance product services, optimizing development, underwriting, claims, professional management, and ecosystem building around frontier areas like AI, integrated circuits, quantum technology, and brain-computer interfaces. Additionally, they support the allocation of insurance funds to technological innovation, leveraging patient capital to back major national projects and venture investments, and strengthen investments in emerging and future industries.

The issuance of the “Science and Technology Insurance Opinions” will effectively promote high-quality development of science and technology insurance in the new era. It will serve as a shock absorber and stabilizer to support innovation, address the mismatch between development needs and actual demands, and comprehensively enhance the capacity and level of science and technology insurance services to support high-level scientific and technological self-reliance and the building of a strong technological nation.

Next, the Ministry of Science and Technology, the China Banking and Insurance Regulatory Commission, the Ministry of Industry and Information Technology, and the National Intellectual Property Administration will ensure proper organization and implementation, strengthen coordination and policy interpretation, and jointly promote the implementation of these policies. They will also carry out publicity activities for science and technology insurance, highlighting typical cases and advanced experiences.

(National Financial Regulatory Administration)

(Edited by: Qian Xiaorui)

Keywords: