China Encourages Foreign Tech Investment, Criticizes Unjust Obstacles
China is open to foreign investment in the technology sector and stands firmly against any unfair barriers that may hinder it.
TroibNews 
China is encouraging international investment in its technology sector and stands against the politicization and manipulation of market-based investment activities, as well as any unfair investment barriers, according to Pan Gongsheng, the governor of the People's Bank of China (PBOC), during a press conference held on Thursday.
Pan indicated that the landscape of technological innovation in China is vibrant and continues to attract considerable interest from both local and international investors. In recent years, the PBOC, in partnership with relevant government departments, has utilized various financial instruments, including equity, debt, and insurance, to bolster support for technological innovation, achieving notable progress.
He outlined two major policies designed to enhance financial backing for tech innovation and industrial upgrades.
The first policy pertains to the creation of a "Tech Board" within the bond market. This initiative aims to facilitate three primary groups—financial institutions, technology firms, and private equity investment companies—in issuing bonds for technological innovation while broadening the available product offerings.
The second policy focuses on improving the refinancing framework for technological innovation and industrial upgrades. The central bank plans to raise the refinancing quota from the existing 500 billion yuan to between 800 billion and 1 trillion yuan, addressing corporate financing requirements and lowering refinancing interest rates.
According to Pan, these initiatives are expected to boost technological innovation and invigorate the market, drawing in greater amounts of private capital and government resources into the field.
Looking forward, the PBOC intends to enhance collaboration with relevant authorities to refine the financial policy framework that supports technological innovation. The emphasis will be on cultivating a financial market environment that fosters innovation while continuously enhancing the scale, intensity, and effectiveness of financial support available to this sector.
Sanya Singh contributed to this report for TROIB News
Pan indicated that the landscape of technological innovation in China is vibrant and continues to attract considerable interest from both local and international investors. In recent years, the PBOC, in partnership with relevant government departments, has utilized various financial instruments, including equity, debt, and insurance, to bolster support for technological innovation, achieving notable progress.
He outlined two major policies designed to enhance financial backing for tech innovation and industrial upgrades.
The first policy pertains to the creation of a "Tech Board" within the bond market. This initiative aims to facilitate three primary groups—financial institutions, technology firms, and private equity investment companies—in issuing bonds for technological innovation while broadening the available product offerings.
The second policy focuses on improving the refinancing framework for technological innovation and industrial upgrades. The central bank plans to raise the refinancing quota from the existing 500 billion yuan to between 800 billion and 1 trillion yuan, addressing corporate financing requirements and lowering refinancing interest rates.
According to Pan, these initiatives are expected to boost technological innovation and invigorate the market, drawing in greater amounts of private capital and government resources into the field.
Looking forward, the PBOC intends to enhance collaboration with relevant authorities to refine the financial policy framework that supports technological innovation. The emphasis will be on cultivating a financial market environment that fosters innovation while continuously enhancing the scale, intensity, and effectiveness of financial support available to this sector.
Sanya Singh contributed to this report for TROIB News
