BEIJING: China’s top economic and financial officials pledged expanded support for technology firms, a push toward more balanced trade and deeper capital market reforms during a news conference on the sidelines of the annual National People’s Congress. The briefing brought together leaders from the economic planning agency, the commerce ministry, the central bank and the securities regulator, as Beijing set out its 2026 policy priorities while seeking to steady growth and bolster innovation-driven development.
The securities regulator said reforms to Shenzhen’s ChiNext board, a key venue for growth companies, are largely in place and designed to better serve innovative firms. The regulator said listing standards will be refined to be more precise and inclusive, with a pre-review mechanism for initial public offerings by technology companies with major breakthroughs. Officials also said capital-raising processes for companies already in the IPO pipeline will be streamlined and that the pricing system for new share issuance will be improved.
On trade, the commerce minister said policy will emphasize a more balanced approach, including efforts to expand imports alongside measures to stabilize foreign trade. He cited scope to increase purchases of agricultural products and advanced equipment, while reiterating support for firms facing external uncertainty. In the government’s broader policy package for 2026, officials have also outlined steps to support domestic demand, including a 100 billion yuan fund aimed at channeling subsidies and financing guarantees to spur consumption.
Capital markets and tech financing
The central bank governor said monetary policy will remain moderately loose and flexible, with tools including reserve-requirement and interest-rate cuts used when appropriate to support the economy. He said the central bank will keep liquidity reasonably ample and improve the efficiency of policy transmission to the real economy. Officials also reiterated support for financing conditions that favor innovation and private-sector activity, in line with the government’s stated goal of strengthening funding for scientific and technological advances.
Fiscal and financial measures announced in the government’s work agenda include issuing 300 billion yuan of special treasury bonds to replenish capital at large state-owned commercial banks. Officials have also flagged plans to improve direct financing channels, including developing venture capital and facilitating mergers and acquisitions as part of efforts to help technology firms access long-term capital. The economic planning chief said a slate of major projects is being advanced this year, describing 109 projects with investment expected to exceed 7 trillion yuan.
Trade rebalance and risk monitoring
Alongside measures to broaden financing, regulators said they will step up capital market risk monitoring and strengthen mechanisms intended to support market stability. The securities regulator said practices tested on Shanghai’s STAR Market will be replicated on ChiNext, including a pre-review approach for IPO applications and adjustments to improve financing efficiency. Officials also said steps will be taken to refine issuance and trading arrangements and to promote a healthier market ecosystem that better matches capital allocation with the needs of innovative enterprises.
Officials framed the combined agenda as part of a shift toward a financial structure that relies more on equity and bond markets, while keeping oversight tight. They said additional policy details on ChiNext reform will be released after further refinement. The government has also described initiatives to encourage consolidation among smaller financial institutions and to improve the stability of the banking system, as it seeks to align financial support with industrial upgrading and trade objectives. – By Content Syndication Services.