China has rolled out a batch of measures aimed at encouraging overseas investment in its tech sector, in a bid to reverse a shift away from the world’s second-largest economy.
Beijing’s commerce ministry said it will support overseas institutions issuing yuan bonds in the country, and also encourage tech companies, including foreign-invested ones, to raise money via bond issues.
The government will also facilitate foreign investment in Chinese tech firms via an inbound investment scheme, QFLP, and will “efficiently” approve applications for licences under QFII and RQFII – programmes that allow foreign investment in Chinese stocks and bonds.
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The ministry added that China would relax restrictions on foreign strategic investments in Chinese-listed firms.
The measures come as China strives to shore up confidence among overseas investors amid a slowing economy and geopolitical tensions.
Chinese President Xi Jinping has also called for an unleashing of “new productive forces”, underscoring the urgency for “quality” growth through technological breakthroughs and innovation.
The measures were jointly published by 10 government agencies that also include the central bank and China’s securities and forex regulators.
- Reuters with additional editing by Sean O’Meara
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