To further promote the combination of science and technology with finance and support banks to increase credit support for sci-tech SMEs, the Administrative Measures for Risk Compensation and Discount Interest for the Sci-tech Achievement Transformation Loan in Shandong Province was released on December 25. Jointly formulated by the Department of Science & Technology of Shandong Province and the Shandong Provincial Department of Finance, the document means that more financial support will be provided for the development of sci-tech SMEs in Shandong.

By optimizing and upgrading previous policies, Shandong strives to reduce banks' lending risks and enterprises' financing costs and pool efforts to build the service brand of "Lukedai" to help sci-tech SMEs develop healthily.

"Lukedai" focuses on sci-tech SMEs registered in Shandong Province (excluding Qingdao), with the loan balance of each enterprise included in the risk compensation filing not exceeding 20 million yuan. To provide accurate support for enterprises' innovation activities such as sci-tech R&D and achievement transformation, the document has defined the scope of use of the sci-tech achievement transformation loan, clarified the requirements for the loan issuance, filing application, risk compensation, discount interest, and other work, and formulated a negative list for policy implementation.