China plans more support for tech SMEs

A 500 billion yuan re-lending initiative to serve technology innovation and transformation was set up in mid-June, of which 100 billion yuan will be used to support tech startups and SMEs. — China Daily

SHANGHAI: As high-grade productive forces will serve as a major economic driver for China during its ongoing efforts to deepen economic transformation, more policies supporting technology companies, especially small and medium enterprises (SMEs), can be expected after the third plenary session of the 20th Central Committee of the Communist Party of China, say experts.

They made the prediction after smaller-cap technology companies showed strong growth as of Tuesday.