China embraces foreign tech investment, stands against unjust obstacles
China expresses its support for foreign investment in the technology sector while standing against any unfair obstacles that may hinder this collaboration.
TroibNews 
China is actively encouraging international investors to engage with Chinese tech companies and stands against the use of investment activities for political ends, as well as against the implementation of unfair barriers to investment, stated Pan Gongsheng, the governor of the People's Bank of China, during a press conference on Thursday.
Pan emphasized that the landscape for technological innovation in China remains vibrant, drawing considerable interest from both domestic and foreign investors. In recent years, the PBOC has partnered with relevant departments to leverage various financial instruments, including equity, debt, and insurance, to bolster support for technological innovation, achieving notable advancements in this domain.
He unveiled two significant policies designed to optimize financial backing for technological innovation and industrial upgrades.
The first initiative involves establishing a dedicated "Tech Board" within the bond market. This platform aims to assist three primary entities—financial institutions, tech firms, and private equity investment companies—in issuing innovation-focused bonds while broadening the variety of products available.
The second initiative seeks to enhance 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 a range of 800 billion to 1 trillion yuan, which will better address corporate financing needs while lowering refinancing interest rates.
Pan asserted that these initiatives would invigorate technological innovation and enhance market vitality, drawing in increased private capital and governmental funds into the sector.
Looking forward, the PBOC intends to strengthen coordination with relevant authorities to refine the financial policy framework that supports technological innovation. The focus will be on cultivating a financial market ecosystem that fosters innovation, while continuously boosting the scale, intensity, and effectiveness of financial support for this sector.
Ramin Sohrabi contributed to this report for TROIB News
Pan emphasized that the landscape for technological innovation in China remains vibrant, drawing considerable interest from both domestic and foreign investors. In recent years, the PBOC has partnered with relevant departments to leverage various financial instruments, including equity, debt, and insurance, to bolster support for technological innovation, achieving notable advancements in this domain.
He unveiled two significant policies designed to optimize financial backing for technological innovation and industrial upgrades.
The first initiative involves establishing a dedicated "Tech Board" within the bond market. This platform aims to assist three primary entities—financial institutions, tech firms, and private equity investment companies—in issuing innovation-focused bonds while broadening the variety of products available.
The second initiative seeks to enhance 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 a range of 800 billion to 1 trillion yuan, which will better address corporate financing needs while lowering refinancing interest rates.
Pan asserted that these initiatives would invigorate technological innovation and enhance market vitality, drawing in increased private capital and governmental funds into the sector.
Looking forward, the PBOC intends to strengthen coordination with relevant authorities to refine the financial policy framework that supports technological innovation. The focus will be on cultivating a financial market ecosystem that fosters innovation, while continuously boosting the scale, intensity, and effectiveness of financial support for this sector.
Ramin Sohrabi contributed to this report for TROIB News
