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Many countries have identified digital, intelligent and green sectors in the drive to develop high-end manufacturing, he said. Zhu said even though many global companies are confronting difficulties such as declining demand and rising labor and production costs, smart manufacturing will continue to be the key factor in determining competitiveness. That is to help expand market share in the regions, which have surging demand in the power, infrastructure and manufacturing sectors. Schneider has transferred up to 2,500 jobs from China's coastal areas to major cities in the central and western regions such as Xi'an and Wuhan. It operates 26 plants, eight logistics centers, three research and development centers and 40 branches in China. With revenue of 27 billion euros ($30.6 billion) in its 2015 fiscal year, Schneider has 160,000 employees in more than 100 countries and regions.Ĭhina is now the company's second-biggest market. Zhu Hai, who is also the electric automation company's global executive vice-president, said these activities would help the company gain more quality technologies from selected Chinese SMEs, as well as enhance the company's ability to diversify its business. Move to help company gain more quality technologies from selected Chinese enterprisesįrench electric equipment and automation company Schneider Electric SA will invest in more small and medium-sized high-tech companies in China through a specialized investment fund, and provide training and learning materials to up to 100 vocational schools this year, its China president said. Schneider to invest in more Chinese high-tech SMEs Xiao Ying, deputy director-general of the CBRC Beijing office, said regulators were doing systematic research to further clarify the functions of the new investment subsidiaries to be set up by the banks and their financial arms specializing in serving technology companies. He added that more innovation in the financial markets should be done to help tech firms, which had grown tremendously in the past 20 years. "The investment and loan linkage mechanism will give strong support to innovation of the Law on Commercial Banks," said Bank of Beijing's Xu Ningyue. That helped the tech firm raise the funds to establish a data center. The Bank of Beijing, for example, invested 7.6 million yuan ($1.2 million) through an asset management company in a Beijing-based network technology firm, which mainly serves radio, television and telecommunication operators.
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Previously, if a commercial bank wanted to invest in a company, it had to do so through a non-bank financial institution. It is a major breakthrough compared with the existing rules, which prevent commercial banks from investing in non-bank financial institutions and companies. In April, the CBRC, the Ministry of Science and Technology and the People's Bank of China jointly issued guidelines to encourage banking institutions to join the pilot program for the qualified technology startups. During the process, we've strengthened coordination with relevant departments of the Beijing municipal government," he said. "We have submitted our plan to the CBRC Beijing office and we are awaiting regulatory approval. "A team headed by our Chairman Yan Bingzhu was formed to carry forward the pilot program," said Xu Ningyue, vice-president of Bank of Beijing. The move follows the Bank of Beijing's selection by the China Banking Regulatory Commission as one of the first batch of 10 banks to participate in a pilot program to establish an "investment and loan linkage mechanism" for qualified technology startups. Bank of Beijing to invest in tech startups for high growthīank of Beijing Co Ltd is preparing to launch an investment subsidiary to invest in technology companies with potential for high growth, as well as lending to startups.