China Asks Banks to Back Tech in Latest Private Sector Boost

(Bloomberg) — China’s central bank called on the financial sector to help fund technology research and M&A deals, the latest in a string of promises to revive a private sector devastated by a two-year regulatory crackdown.

A plethora of Beijing officials in recent weeks talked about measures to prop up private businesses, regarded as key to resuscitating a sputtering economy. On Thursday, the central bank asked lenders and financial markets to provide more support for innovation and tech-related acquisitions and to boost investment in startups.