China further expedites cross-border financing for small companies

SHANGHAI : China's foreign exchange regulator said on Tuesday it would further expedite cross-border financing for high-tech and innovative Chinese companies.

Since 2018, China has launched pilot schemes in nine provinces or cities to allow small, high-tech companies to borrow freely from overseas within a certain quota. The State Administration of Foreign Exchange said on Tuesday that the pilot scheme will be expanded to 17 provinces or cities, and will include innovative small companies, or those with specialties.

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