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|05 December, 2018

China pledges to expand financing channels for small, medium tech firms

Promises more policies to promote innovation

A China yuan note is seen in this illustration photo May 31, 2017.

A China yuan note is seen in this illustration photo May 31, 2017.

REUTERS/Thomas White/Illustration

China's state council said on Wednesday it would expand financing channels for small and medium technology firms, and promised more policies to promote innovation, state television said. A state council meeting chaired by Premier Li Keqiang agreed that state private equity funds would be encouraged to make investments in technology start-ups, CCTV reported.

The meeting also approved a draft amendment to the patent law with harsher penalties for intellectual property right infringement.

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(Reporting by Beijing Monitoring Desk; editing by Darren Schuettler) ((yawen.chen@thomsonreuters.com; +86 10 6627 1207; Reuters Messaging: yawen.chen.thomsonreuters.com@reuters.net))