China is opening its doors wider to international investors who are keen on its growing technology scene. On Thursday, Pan Gongsheng, governor of the People’s Bank of China (PBOC), announced new policies welcoming foreign investment in Chinese tech companies and opposing unfair investment barriers.
“China’s tech innovation is buzzing with energy,” Pan said at a press conference. “We’re catching the eye of investors both at home and abroad.”
He unveiled two big moves to boost support for tech innovation and industry upgrades:
Launching a special “Tech Board” in the bond market: This new platform will help financial institutions, tech companies, and private equity firms issue bonds focused on technological innovation, offering more financial options.
Boosting funds for tech innovation: The PBOC will increase the refinancing quota from 500 billion yuan up to 800 billion or even 1 trillion yuan (about $110 billion to $138 billion). This means more money available for companies and lower interest rates.
Pan believes these steps will spark more innovation and energize the market, drawing in more private and government investment into the tech sector.
Looking ahead, the PBOC plans to team up with other authorities to improve the financial policies that support tech innovation. The goal is to create a financial environment that encourages innovation and keeps boosting support for the tech industry.
