China to expand cross-border financing access

Move aims to bolster private high-tech firms

China is mulling raising the foreign debt ceiling for high-technology enterprises while expanding the reach of policies that facilitate corporate foreign exchange management, as part of the country's all-round efforts to enhance financial support for private enterprises, said the State Administration of Foreign Exchange.

Executives and experts said the moves will support private, tech-oriented enterprises to obtain more overseas financing and help private sector exporters save on costs and enhance efficiency, thus sharpening their international competitiveness while offsetting US investment and trade barriers.

"We will increase the quota for nationwide eligible high and new-tech firms, 'little giant' companies and tech-oriented small and medium-sized enterprises to autonomously borrow external debt at an appropriate time," a SAFE official said in an exclusive interview with China Daily.