March 19, 2020 / 4:23 AM / 12 days ago

China widens pilot scheme on cross-border funding for high-tech start-ups

SHANGHAI, March 19 (Reuters) - China’s foreign exchange regulator will expand a pilot scheme to enable high-tech start-ups to borrow money more easily from overseas, it said on Thursday.

The scheme, launched in 2018 by the State Administration of Foreign Exchange (SAFE) in Beijing’s Zhongguancun technology hub, is now being rolled out in economic zones in Shanghai, Hubei and Guangdong, SAFE said in a statement.

SAFE said it will continue to monitor cross-border capital flows and prevent systemic financial risks. (Reporting by Samuel Shen and Andrew Galbraith)

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