December 5, 2018 / 1:47 PM / 13 days ago

China pledges to expand financing channels for small, medium tech firms

BEIJING (Reuters) - China’s state council said on Wednesday it would expand financing channels for small and medium technology firms, and promised more policies to promote innovation, state television said.

A state council meeting chaired by Premier Li Keqiang agreed that state private equity funds would be encouraged to make investments in technology start-ups, CCTV reported.

The meeting also approved a draft amendment to the patent law with harsher penalties for intellectual property right infringement.

Reporting by Beijing Monitoring Desk; editing by Darren Schuettler

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