China is rolling out the red carpet for international investors eager to dive into its booming tech sector. 🏦🌐 Pan Gongsheng, governor of the People's Bank of China (PBOC), announced at a press conference on Thursday that the country is committed to fostering a vibrant landscape for technological innovation.
Highlighting the dynamic nature of China's tech scene, Pan emphasized the significant interest from both domestic and global investors. To supercharge this momentum, the PBOC, in collaboration with key departments, has been leveraging various financial tools like equity, debt, and insurance to bolster support for tech innovations.
One of the standout initiatives is the launch of a dedicated "Tech Board" in the bond market. This new platform aims to support financial institutions, tech enterprises, and private equity firms in issuing technological innovation bonds, offering a diverse range of investment products. 💡📈
Additionally, the PBOC is enhancing its refinancing policy for technological innovation and industrial upgrades. By expanding the refinancing quota from 500 billion yuan to between 800 billion and 1 trillion yuan (approximately $110 billion to $138 billion), the central bank aims to better meet corporate financing needs while reducing interest rates. This move is set to attract more private capital and government funds into the tech sector.
Looking ahead, the PBOC plans to strengthen coordination with relevant authorities to refine the financial policy framework supporting technological innovation. The goal is to create a robust financial ecosystem that nurtures innovation and continuously amplifies the scale, intensity, and effectiveness of financial support for the tech industry. 📊✨
Reference(s):
China welcomes foreign investment in tech, opposes unfair barriers
cgtn.com
