China embraces foreign tech investment, stands against unfair restrictions
China is open to foreign investment in the technology sector while opposing any unjust obstacles that may hinder such opportunities.
TroibNews 
China is open to international investors looking to invest in its tech companies and opposes any attempts to politicize or instrumentalize market-based investment activities, as well as the imposition of unfair investment barriers, stated Pan Gongsheng, governor of the People's Bank of China, the nation's central bank, during a press conference on Thursday.
Pan highlighted that the landscape for technological innovation in China is vibrant, drawing substantial interest from both local and global investors. In recent years, the PBOC has worked with various departments to utilize equity, debt, and insurance tools to bolster financial backing for technological innovation, achieving noteworthy progress in this domain.
He unveiled two significant policies aimed at optimizing financial support for technological innovation and industrial upgrades.
The first policy introduces a new "Tech Board" in the bond market, designed to assist three key groups – financial institutions, tech firms, and private equity investors – in issuing technological innovation bonds and broadening the spectrum of available financial products.
The second initiative focuses on improving the refinancing policy for technological innovation and industrial upgrades. The central bank plans to raise the refinancing quota from the current 500 billion yuan to between 800 billion and 1 trillion yuan to better address corporate financing needs while also lowering refinancing interest rates.
According to Pan, these initiatives will enhance technological innovation and invigorate the market, encouraging a greater influx of private capital and government funds into the sector.
Looking to the future, the PBOC aims to strengthen collaboration with relevant authorities to refine the financial policy framework that supports technological innovation. The efforts will concentrate on developing a financial market ecosystem conducive to innovation while consistently improving the scale, intensity, and effectiveness of financial support for the sector.
Sophie Wagner contributed to this report for TROIB News
Pan highlighted that the landscape for technological innovation in China is vibrant, drawing substantial interest from both local and global investors. In recent years, the PBOC has worked with various departments to utilize equity, debt, and insurance tools to bolster financial backing for technological innovation, achieving noteworthy progress in this domain.
He unveiled two significant policies aimed at optimizing financial support for technological innovation and industrial upgrades.
The first policy introduces a new "Tech Board" in the bond market, designed to assist three key groups – financial institutions, tech firms, and private equity investors – in issuing technological innovation bonds and broadening the spectrum of available financial products.
The second initiative focuses on improving the refinancing policy for technological innovation and industrial upgrades. The central bank plans to raise the refinancing quota from the current 500 billion yuan to between 800 billion and 1 trillion yuan to better address corporate financing needs while also lowering refinancing interest rates.
According to Pan, these initiatives will enhance technological innovation and invigorate the market, encouraging a greater influx of private capital and government funds into the sector.
Looking to the future, the PBOC aims to strengthen collaboration with relevant authorities to refine the financial policy framework that supports technological innovation. The efforts will concentrate on developing a financial market ecosystem conducive to innovation while consistently improving the scale, intensity, and effectiveness of financial support for the sector.
Sophie Wagner contributed to this report for TROIB News
