AsianFin -- China announced Wednesday that it will ramp up capital market and bank credit support for science and technology innovation enterprises, as part of broader efforts to accelerate the country’s tech development.

According to new guidelines jointly issued by seven government bodies, including the Ministry of Science and Technology, Beijing will expand a pilot program for financial asset investment companies (AICs) to channel more equity investment into tech-driven firms.

The country also pledged to support domestic technology companies seeking overseas listings, underscoring its commitment to globalizing its innovation ecosystem.