China announces enhanced financial measures to support science and technology innovation, focusing on domestic growth and reduced foreign dependency.
China boosts financial support for science and technology innovation through new measures aimed at reducing reliance on foreign technology.
This move comes amid growing tensions with the United States and reflects China’s strategy to strengthen its domestic tech industries.
The new guidelines were issued jointly by seven key government bodies, including the Ministry of Science and Technology and the People’s Bank of China.
They aim to improve access to capital for technology firms, particularly small- and medium-sized enterprises, and to promote innovation-driven growth.
The policy encourages more tech companies to raise funds through domestic and international public offerings.
It also outlines steps to increase bank credit for national science programs and supports tech-focused mergers and acquisitions with longer loan terms—up to 10 years in some pilot regions.
Additionally, the government is expanding an existing pilot program that promotes equity investment in innovation-based enterprises to 18 cities and provinces.
This is intended to create a favorable financial environment for science and technology development.
The initiative is part of China’s broader plan to accelerate technological self-reliance.
By focusing on domestic research and development, the country hopes to compete globally while insulating its innovation ecosystem from external pressures.
As China boosts financial support, it signals the country’s determination to become a leading power in advanced technologies.
These steps are expected to drive growth and ensure that Chinese tech enterprises thrive in a challenging global landscape.
