PUBLISHED MARKET GUIDE
Shanghai Issues Measures to Boost Direct Financing for Tech Firms
New steps aim to attract overseas capital, ease QFLP procedures, and encourage corporate venture capital investment.
Shanghai has issued a set of measures to strengthen direct financing and financial services for technology companies, including deepening its Qualified Foreign Limited Partner (QFLP) pilot and streamlining approvals for foreign-invested fund managers.
Independently written English guidance based on cited public sources. Every public guide is human reviewed; it is not an official translation of the source publisher.
Policy Overview
The measures aim to attract high-quality overseas capital, help key Shanghai technology companies access domestic and overseas capital markets, and strengthen financial services throughout their development.
Deepening QFLP and Cross-Border Investment
Shanghai will deepen its QFLP program and promote a model in which overseas capital is managed by domestic fund managers. The city will also explore ways of using offshore renminbi funds to support domestic technological innovation.
For mature and reputable foreign-invested fund managers, Shanghai will streamline establishment approval procedures, facilitate foreign exchange conversion, and provide tax compliance guidance. These measures are designed to facilitate cross-border investment.
Encouraging Corporate Venture Capital
Leading enterprises in industrial chains and listed companies are encouraged to make corporate venture capital (CVC) investments. CVC investors are encouraged to provide startups in upstream and downstream segments of industrial chains with capital, technology, and market resources.
They may also help portfolio companies access overseas markets and financing, conduct strategic mergers and acquisitions, and pursue industrial integration. Shanghai will support CVC investors in establishing cross-border industrial funds jointly with Chinese enterprises operating overseas.
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