China supports central SOEs to issue tech innovation bonds

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FILE PHOTO: Illustration photo of a China yuan note

SHANGHAI (Reuters) – China’s securities regulator on Friday it will support bond issuance by central state-owned enterprises (SOEs) to fund tech innovation.

The China Securities Regulatory Commission said in a notice that banks, social security fund and other long-term investors are encouraged to invest in tech innovation bonds issued by SOEs controlled by the central government.

The statement was jointly issued with China’s state assets regulator.

(Reporting by Shanghai and Beijing newsroom; Editing by David Goodman)