Free Trial

MNI BRIEF: China Financial Sector To Boost Tech Innovation

MNI (Singapore)

China should guide long-term funds to invest in technological innovation, increase the equity financing and support for eligible tech companies engaged in cross-border financing with Belt and Road Initiative countries, said Shang Fulin, former head of the China Securities Regulatory Commission and China Banking Regulatory Commission on Sunday during the 2023 Shanghai Suhewan Conference.

Promoting financial support for technological innovation is not only necessary for facilitating the economic transformation, but also for enhancing the financial sector’s international competitiveness, which is significant for maintaining China's long-term economic stability and ensuring economic security, said Shang, now chairman of China Wealth Management 50 Forum.

China must upgrade it industries to high-tech and high-value-added ones, and form a new economic growth pattern to improve labour productivity and achieve high-quality growth as the traditional advantages of low-cost labor diminishes and the marginal effects of credit expansion on GDP decreases, he noted.


To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.