China has declared on Wednesday that will further increase support for scientific and technological innovation companies in the capital market and which will expand support for bank credit to companies in the sector.
The measure occurs when the country intensifies its efforts to reduce dependence on foreign technology between the growing geopolitical tensions between China and the United States.
The goal is to strengthen financial support to the main national science and technology programs and small and medium -sized technological companies, according to the guidelines issued together by seven authorities, including the Ministry of Science and China technology.
China will encourage qualified technological companies to open its capital in the country and abroad, according to the law, said.
The country will also expand its pilot program to investment companies in financial activities to 18 cities and provinces, with the aim of guiding more capital investments in technological innovation companies.
Banks in pilot cities will be authorized to extend the deadline for merger and acquisition loans for technological companies for a maximum of 10 years, he added.
Source: Terra
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