The PBOC and other ministries issued guidance to support building international technology innovation centres in Beijing (Jing-Jin-Ji), Shanghai (Yangtze River Delta) and the Guangdong‑Hong Kong‑Macao Greater Bay Area. The guidance calls for deeper cross‑border financial rule alignment and market connectivity, and to explore mechanisms to facilitate cross‑border flows of scientific data and intellectual property while improving cross‑border IP protection and financing services. It instructs, wit

The PBOC and other ministries issued guidance to support building international technology innovation centres in Beijing (Jing-Jin-Ji), Shanghai (Yangtze River Delta) and the Guangdong‑Hong Kong‑Macao Greater Bay Area. The guidance calls for deeper cross‑border financial rule alignment and market connectivity, and to explore mechanisms to facilitate cross‑border flows of scientific data and intellectual property while improving cross‑border IP protection and financing services. It instructs, within legal and risk‑controllable limits, deeper cross‑border tech‑finance cooperation and supports financial institutions’ participation in cross‑border lending, M&A financing and syndicated loans. Capital‑market connectivity should be advanced steadily, and eligible tech companies are supported to raise debt via Yulan bonds and Shanghai free‑trade‑zone offshore bond programs.