Beijing Hopes to Transform into International Tech Hub with Heightened Financial Support for Local Innovation

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Municipal authorities for the Chinese capital of Beijing are pushing for greater financing of local tech companies.

A slew of authorities including the local office of the China central bank, Beijing’s banking and insurance regulator, Beijing’s securities regulator and the Haidian district government have jointly released the “Several Measures on Providing Full Chain Financial Support to Tech Innovation Enterprises” (关于对科技创新企业给予全链条金融支持的若干措施).

The Measures seek to “strengthen full-chain financial support across multiple methods for innovative tech companies, including venture investment, bank loans, and listing”, as well as create a “multi-tier, professionalised and specialised tech financing system, to vigorously support the development of Beijing into an international tech innovation centre.”