"Trillions" breakthroughs are frequently occurring! State-owned major banks and joint-stock banks are fiercely competing in fintech.

In October 2023, “technology finance” became the top priority among the “five major articles” proposed by the Central Financial Work Conference, ushering in unprecedented development opportunities.

Under policies from all quarters, technology finance has been regarded as the most important focus for the financial sector to support the high-quality development of the economy. The banking industry has also been actively adjusting its layout. By optimizing organizational mechanisms, upgrading service systems, and strengthening internal-external coordination and linkages, banks have been working to fully connect the positive feedback loop among technology, industry, and finance.

According to annual report disclosures, as of the end of 2025, the outstanding balances of technology finance loans at Industrial Bank and Pudong Development Bank have already surpassed the one-trillion-yuan mark. Meanwhile, the outstanding balances of technology loans at CITIC Bank and China Merchants Bank have also reached a new threshold above one trillion.

Among state-owned large banks, besides Industrial and Commercial Bank of China whose technology loan balance reaches 6 trillion yuan, China Construction Bank has also surpassed the 5-trillion-yuan mark. Latest data show that Bank of China’s technology loan balance has also surpassed 5 trillion yuan.

“Surpassing the one-trillion” happens often

In recent years, the leapfrogging development of the technology sector has brought the financial industry fresh opportunities.

In its annual report, ICBC discloses that it has always placed serving technological innovation in a prominent position, improved the “Five-Special” service mechanism, and introduced distinctive financing scenarios such as “R&D loans.” By the end of 2025, the balance of technology loans reached 6 trillion yuan, up nearly 20% from the beginning of the year.

Cui Jinyong, Chairman of CCB (Zhang Jinliang), said in the annual report address that it will “focus on building a technology finance leading bank.” By the end of 2025, the bank’s technology loan balance reached 5.25 trillion yuan, up 18.9% from the beginning of the year.

In addition, at the end of last year, the technology loan balances at Agricultural Bank of China, Bank of Communications, and Postal Savings Bank of China were 4.7 trillion yuan, 1.58 trillion yuan, and 0.95 trillion yuan, respectively, with full-year growth rates exceeding 20%, 10.7%, and 13%.

Bank of China’s annual report does not disclose the specific growth rate, but it says it “provided 4.82 trillion yuan in technology loans.” At a recent technology finance work exchange and advancement meeting, however, Bank of China’s chairman, Ge Haijiao, revealed that by the end of February, the bank’s technology loan balance had reached 5.06 trillion yuan.

Based on this data, as of the end of last year, technology loans at Bank of China accounted for more than 20% of the bank’s total loan balance. ICBC and CCB were both close to 20% and 19%, respectively. At Agricultural Bank of China and Bank of Communications, both were above 17%.

Among joint-stock banks, Industrial Bank and Pudong Development Bank each disclosed that their technology finance loan balances had surpassed the one-trillion-yuan threshold by the end of last year, at 1.12 trillion yuan and 1.05 trillion yuan, respectively, with Industrial Bank’s full-year growth rate close to 18.5%.

Among them, Industrial Bank proposed in 2024 that it would build technology finance into its “fourth business card,” and place it first among the “four business cards.” “As of the end of last year, the balance of our bankwide technology finance loans remained the first among joint-stock banks.” said its chairman, Lü Jiajin.

Pudong Development Bank has pushed technology finance forward as its primary strategic track for the bank as a whole. It has leveraged “data and intelligence to pool efforts” to build a “bank of choice for technology enterprises.” By the end of last year, it served more than 25.6 million technology enterprises, and more than 80% of the technology enterprise listed companies it served nationwide.

CITIC Bank and China Merchants Bank also disclosed that as of the end of last year, their bankwide technology loan balances were approximately 1.07 trillion yuan and 1.04 trillion yuan, respectively, with year-over-year growth rates of about 14.8% and 8.1%. Both surpassed the one-trillion-yuan mark.

Optimizing organizational configuration

New breakthroughs rely on stronger top-level design. Among the progress on the “five major articles” separately listed in each bank’s annual report, the construction of specialized technology finance institutions is often highlighted.

Among them, ICBC and Bank of China both established technology finance centers at the headquarters level in 2024, building a multi-tier organizational structure covering headquarters—branches—sub-branches—outlets. The latter has already set up technology finance centers in 24 provinces and municipalities nationwide at the same time.

CCB established a Technology Finance Department (a second-level unit) at the headquarters level. It set up a Technology Innovation Center at the first-tier branches in key regions, established technology finance direct-operation centers at some key second-tier branches, and set up technology-feature branches in areas rich in technology resources.

Agricultural Bank of China has built a three-tier specialized service system of “technology finance service centers—technology finance departments—technology-specialized branches,” establishing 25 technology finance service centers and more than 300 technology-specialized branches.

In terms of Bank of Communications, it established at the headquarters level a logic-based headquarters technology finance center, along with a Technology Finance Committee covering front, middle, and back-office departments and subsidiaries. Meanwhile, 35 branches formed dedicated technology finance advancement institutions (technology finance departments/centers/special teams/flexible teams). The total number of technology branches and technology-feature branches surpassed 100.

Among joint-stock banks, in early 2024, Pudong Development Bank was the first to set up a technology finance department at the headquarters level. It has now formed an organizational structure of “Group large-scale innovation and technology platform + technology finance special team + headquarters technology finance department + branch technology finance department + technology (feature) branches.” It has set up 510 technology (feature) branches nationwide.

For China Merchants Bank and Bohai Bank, their annual reports also show that last year they continued to optimize their organizational configuration. At the headquarters level, they newly established a Technology Finance Department (first-level department) respectively, and increased policy support and resource investment for technology finance.

Industrial Bank, meanwhile, planned and laid out according to “1+20+150” (headquarters technology finance leadership group + 20 key technology finance branches + 150 technology branches). It rolled out technology branch authorization work in an orderly manner in batches, continuously expanding the coverage of its specialized network.

In addition, CITIC Bank has built a three-dimensional service network of “technology finance centers at the two levels of headquarters and branches + Pioneer Army branches + technology branches.” By the end of last year, the number of its key technology finance branches and Pioneer Army branches had expanded to 21 and 272, respectively.

Differentiated product lines

Given that technology enterprises have different characteristics, demands, and challenges across various life stages, in recent years banks have actively improved differentiated policies, provided targeted product strategies, and built an efficient credit service system.

Bank of Communications’ annual report reveals that it uses the “KeChuang E-Loan” product line as a starting point. Based on the different development stages and needs of small and micro tech-innovation enterprises, it provides corresponding solutions.

Bank of China, in response to the national strategy for artificial intelligence development, has launched the “BOC KeChuang computing power loan” in regions where AI innovation is active. By the end of last year, it had already established cooperation with 4,460 core enterprises in the artificial intelligence industry chain, with a credit balance of 545.6 billion yuan.

Postal Savings Bank of China’s annual report also shows that the bank has continued upgrading its “U Advantage Chuang” product matrix. It innovatively optimized exclusive credit products for technology enterprises at early growth stages, promoted technology M&A loans, major technology project loans, and product services under the “U Advantage Plan.”

Among joint-stock banks, Industrial Bank relies on its “1+4+N” exclusive product system (one basic product handbook + four categories of feature product tools + N exclusive product series) to iteratively upgrade and refine, building a full-spectrum product matrix covering “equity, bonds, loans, guarantees, and leasing.”

China Merchants Bank lays out its service deployment along four cycles of technological innovation: innovative talents, innovative technology, innovative products, and innovative industries. By selecting service scenarios, building a service ecosystem, and innovating service content, it upgraded and built a “4×3” matrix-style comprehensive service solution for technology finance.

Zhejiang Chouzhou Bank iteratively upgraded its technology finance 15 large scenarios / 30 specialized product system. It focused on serving a group of technology-based enterprises in key industries such as biopharmaceuticals, integrated circuits, aerospace, and artificial intelligence. By the end of last year, its technology loan balance exceeded 270 billion yuan.

Worth noting is that multiple national banks disclosed that in 2025, using policy tools as leverage, they will actively promote pilot businesses for technology enterprise M&A loans to support technology enterprises’ merger, acquisition, and restructuring.

Taking CCB as an example, it treats M&A business as an important lever for implementing the “technology finance” major article. It increased resource investment. By the end of last year, CCB’s technology-sector M&A loan amount increased by 35.1 billion yuan year over year. Of all the incremental M&A loans, it accounted for nearly 70%.

Building a cooperation ecosystem circle

The development of tech innovation is never a solo “one-person show.” Technology finance also needs ecosystem-wide coordination.

Besides leveraging the advantages of various financial licenses within their own groups, to meet technology enterprises’ diversified financing needs, banks often focus on getting internal-external coordination and linkages right, and building an ecosystem for technology finance.

Among them, ICBC held a brand marketing event called “ICBC Tech Innovation Partner Bank,” and jointly with multiple parties established a technology finance ecosystem alliance. Postal Savings Bank of China jointly hosted a special event with the Shanghai Stock Exchange, and worked together with high-quality venture capital and investment institutions to carry out investment-and-loan-linked activities.

Bank of China has deepened its “BOC Tech Innovation Partner Program.” By the end of last year, across the whole system it held 198 tech-innovation themed activities, cumulatively covering nearly 10,000 institutions of various types, attracting more than 800 investment institutions to participate, and providing diversified financial demand matching services to 7,500+ technology enterprises.

CITIC Bank, meanwhile, strengthened the coordination advantages of the CITIC Group. The “CITIC Equity Investment Alliance” has continued to release capacity in a coordinated manner. By the end of last year, the size of funds under management exceeded 340 billion yuan, and investment support was provided to more than 1,200 technology enterprises.

In addition, relying on related policies to further expand equity investment pilot programs for Asset Investment Companies (AIC) in the country, in March 2025, three joint-stock banks’ AICs opened one after another, empowering technology innovation.

“The establishment of an AIC is not only a simple addition of licenses; it is also a key variable for us to do a good job in high-quality development of technology finance,” said Xingye Bank’s vice president Zeng Xiaoyang at the bank’s annual performance briefing.

Zeng Xiaoyang said that in the next stage, it will make full use of the advantages of various licenses, including AICs, to strengthen coordination: first, leverage the unique advantages of its research company to find target customers with growth potential; second, integrate various resources internally and externally to build an ecosystem cooperation circle; third, continuously optimize a product and service system combining equity, bonds, and loans.

China Merchants Bank’s president Wang Liang also viewed the opening of AICs as another achievement in comprehensive operations, saying, “It will strongly promote the bankwide ‘integrated model of investing and commercial banking’ operations, and better serve technology-innovation-oriented enterprises.”

“The regulatory authority also needs to approve the qualification for new AICs to engage in equity investment business. My bank is actively communicating with regulators. If approved, CMB Investment and CMB International can strengthen coordination in equity investment business, and with the conditions, foundations, and talent teams already accumulated by CMB International, achieve good development,” Wang Liang said.

Proofread by: Zhu Tianting