Shanghai to launch ‘choke point’ tech funds, relax pre-profit listing rules in key sectors

Shanghai is implementing new measures to bolster its technology sector. The municipal government plans to encourage the creation of dedicated funds aimed at addressing supply-chain gaps and advancing "choke point" technologies. These funds will draw investment from state-owned enterprise investment arms, government-backed funds, and private investors to support companies developing critical technologies. Additionally, Shanghai is exploring new avenues for offshore yuan capital to invest in China's tech board. The city will also relax pre-profit listing rules for technology firms in key sectors such as artificial intelligence and nuclear fusion, allowing them to go public.