BEIJING (Reuters) – Bank of China has set up a 50 billion yuan ($6.9 billion) fund to invest in technology startups, state media CCTV reported, as the nation’s big state lenders move to support the private economy. The technology and innovation fund, expanded from the 30 billion yuan announced last year, aims to support technology…
China’s focus on expertise and innovation have been powerful drivers of growth over the past year and look set to remain so despite the “profound” changes around the world. Addressing the media, Liu, the CPPCC’s spokesman for the session, said China’s vast market had potential to unlock fresh spending and was supported by a well-established…
Yu Renrong, the only semiconductor executive to attend a symposium hosted by Xi Jinping with other Chinese entrepreneurs earlier this week, has quickly become the face of the nation’s chipmakers. In a video released by the mainland’s state broadcaster CCTV, the 58-year-old founder of Shanghai-listed Will Semiconductor – wearing a black coat – was seen…
One day after a high-profile symposium hosted by President Xi Jinping and attended by China’s leading entrepreneurs, Beijing has unveiled new measures in support of the private sector – an act the president explicitly backed in his speech. Legislation to promote the private economy is also set for a second review later this month, both…
China’s economic growth this year will be about 5 per cent, a high-level official said on Saturday, suggesting that the country is hitting its annual target. The world’s second-largest economy is going to achieve major goals for 2024 and contribute to nearly 30 per cent of global growth, Han Wenxiu, deputy director of the Central…
China’s draft legislation to promote the private economy needs urgent refinements, including penalties for law-enforcement agencies overstepping their authority and infringing on the rights of businesses, a former State Council official has said. Former deputy director of the industry, commerce and trade research department Chen Yongjie pointed out that entrepreneurs felt that clauses in the…