China unveils plan to boost development of technology finance

BEIJING, June 29 (Xinhua) -- China has unveiled a plan to boost the development of science and technology finance amid efforts to support technological innovation.

The country will take targeted measures to support major national science and technology programs, strategic emerging industries, industries of the future as well as upgrading and transformation of traditional industries, according to a work plan jointly issued by the People's Bank of China and six other government agencies.

The plan proposes building green channels for tech-based enterprises to issue bonds, supporting tech firms with cross-border financing, and fostering the development of diversified financial services to support the growth of tech companies.

The country will also improve its policy tools, including the relending facility to support technological innovation and transformation as well as small businesses, and special bonds for tech innovation.