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Shanghai plans funds and looser listing rules for unprofitable tech
The city’s plan includes expanding Qualified Foreign Limited Partner access for offshore yuan and streamlining approvals for overseas fund managers operating in Shanghai.
Shanghai is exploring dedicated investment funds to address “choke point” technologies and supply chain gaps, while also creating more pathways for offshore yuan capital to support companies on China’s tech board, according to a government document discussed by SCMP Economy.
The municipal government said the funds would pool money from corporate investment arms of state owned enterprises, government backed funds and private investors to back firms developing critical technologies. Shanghai also plans to attract offshore yuan via its Qualified Foreign Limited Partner programme, and make it easier for established overseas fund managers to operate locally by streamlining approvals, easing foreign exchange procedures and providing tax compliance support.
On the public markets side, Shanghai plans to expand access for artificial intelligence and low altitude economy companies to list on the tech board before they are profitable by introducing listing review guidelines. It also intends to encourage companies in emerging and future industries, including controlled nuclear fusion, embodied intelligence, large language models, quantum computing and brain computer interfaces, to list on the exchange.
Shanghai Municipal Financial Commission said it aims to make capital markets more accommodating for unprofitable companies in cutting edge technology sectors, as the city seeks to broaden both funding channels and listing options for early stage innovators.