Li Yunze

Head of the National Financial Regulatory Administration

China plans to launch more pilot projects for equity investment through financial asset investment companies in order to provide stronger support for sci-tech, innovation-based enterprises, a senior official said on Monday.

Li Yunze, head of the National Financial Regulatory Administration, said China will spare no efforts to promote sci-tech innovation, with measures already put in place to help innovative enterprises gain better access to financial services.

In accordance with this year's Government Work Report, China will also continue to deepen supply-side reforms in the financial sector and help cultivate more new quality productive forces, thereby further contributing to high-quality economic development, Li said.

When it comes to the prevention and resolving of financial risks, Li said China will make its policies and moves more forward-looking, precise and effective. The consistency of policies will also be improved.

"Currently, the country's financial risks are controllable," said Li. "Development, especially high-quality development, remains the fundamental solution to minimizing risks."

Li also mentioned that China has been mulling lower down payment ratio for car loans and improving the pricing mechanism for new energy vehicle insurance.