The 2026 High-Quality Development Conference for the Low-Altitude Economy Industry was held in Beijing on May 27th, themed "Empowering Airspace, Gathering Momentum for Strength." Wang Jiaqiang, a senior researcher at the Bank of China Institute, attended and delivered a speech.
Wang Jiaqiang stated that the low-altitude economy industry is growing steadily, creating a new frontier for financial services. Over the next five years, the low-altitude economy is expected to generate nearly one trillion yuan in potential financing demand across three major areas: low-altitude equipment manufacturing, low-altitude infrastructure, and low-altitude operations.
He pointed out that in terms of equipment financing, low-altitude equipment manufacturing is projected to generate over 200 billion yuan in financing demand by 2030. For infrastructure financing, the potential by 2030 could also reach over 200 billion yuan. Regarding equity financing, based on the primary market financing situation for the low-altitude economy, annual equity financing over the next five years is also expected to reach around 20 billion yuan.
Wang Jiaqiang also noted that financial support for the low-altitude economy faces several new challenges.
First, the industrial characteristics of the low-altitude economy place higher demands on financial institutions' ability to identify and evaluate the value of information. Its asset-light nature is quite pronounced, with fixed assets typically accounting for less than 20% of enterprises' assets, far below traditional manufacturing. Core value lies more in patented technology and the value of R&D teams.
Second, there is a high requirement for the suitability of financial products and services. Low-altitude economy enterprises have relatively long cultivation cycles. For example, the international large eVTOL company Joby took 13 years from its establishment to the start of commercialization. This necessitates that financial services place greater emphasis on long-term orientation, patient capital, and phased alignment.
Third, the capital market support system also needs further optimization. Currently, the low-altitude economy has not yet formed a stable and mature business model. Taking the low-altitude economy complete aircraft manufacturing sector listed on the A-share market as an example, the financial data disclosed this year generally still shows losses or minimal profits.
Fourth, insurance innovation and risk compensation mechanisms still require further improvement. As the low-altitude economy is a high-investment, high-uncertainty field, government support and risk-sharing mechanisms are also crucial.
Addressing these issues, Wang Jiaqiang proposed four suggestions.
First, improve the multi-level capital market, strengthen long-term capital support, continuously expand direct financing channels, and cover the entire industry life cycle.
Second, further innovate financial products and services, optimize the credit supply structure, develop specialized credit products suited to the characteristics of the low-altitude economy industry, and encourage banking institutions to further introduce specialized products such as intellectual property pledge loans, aircraft financial leasing, project revenue right pledges, and supply chain finance to extend loan terms and match enterprise operating cycles.
Third, further strengthen infrastructure and data ecosystem construction to solidify the foundation for financial support. Further promote cross-platform data interconnectivity and break down information barriers.
Finally, enhance policy coordination and risk prevention and control to ensure the steady and long-term development of the entire industry.
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