China’s financial regulator has set risk prevention, stronger supervision and high-quality development as its three priorities for the 15th Five-Year Plan period. Cong Lin, vice head of the National Financial Regulatory Administration (China’s financial-sector regulator), said local small and mid-sized financial institutions would be pushed toward consolidation, quality improvement and clearer market positioning while authorities uphold the bottom line of preventing defaults. The administration also plans to intensify action against illegal financial activity, price wars, illegal commission rebates and high-interest, high-rebate practices. Financial support for technology and manufacturing is already expanding: technology enterprise loans reached 26.9 trillion yuan at the end of July, up 17.9% year on year, while manufacturing loans stood at 41.7 trillion yuan, up 9.8%. Technology Insurance (coverage for technology-related risks) provided 7.2 trillion yuan in risk coverage during the first seven months of the year, a 55.8% increase. Regulators said they would improve financing for technology companies, major 15th Five-Year Plan projects, consumption, manufacturing and foreign trade, while encouraging long-term investment in early-stage, smaller and hard-tech businesses. The policy direction points to tighter industry discipline and potentially faster consolidation among local financial institutions, alongside more targeted capital for technology and industrial upgrading.