On June 21, the Shanghai headquarters of the People's Bank of China issued a document stating that the People's Bank of China has established a technology innovation and technical transformation refinancing loan to encourage and guide financial institutions to increase their financing support for technology-based small and medium-sized enterprises, key areas of technical transformation and equipment renewal projects. At present, the first batch of technology innovation and technical transformation refinancing loans in Shanghai are being smoothly implemented. Industrial and Commercial Bank of China's Shanghai branch has successfully landed the first business in Shanghai, providing a loan of more than 50 million yuan for Shanghai Xinrong Food Raw Materials Co., Ltd.'s "Xinrong International Global R & D Center and Product Incubation Manufacturing Base Project", with a contract amount of 240 million yuan. Other commercial banks are speeding up the docking of list companies and projects, and some have completed approval of credit or have signed contracts and will lend as soon as possible in accordance with the principles of marketization and rule of law to support enterprise technical transformation and upgrading. Next, the Shanghai headquarters of the People's Bank of China will continue to strengthen coordination and linkage, play a good role in stimulating and guiding monetary policy tools such as technology innovation and technical transformation refinancing loans, leverage more financial resources, and help the construction of Shanghai's "Five Centers" and high-quality economic development.