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China Encourages State Firms, Foreign Investors to Back Startups

China’s top leaders want state-owned enterprises and foreign investors alike to boost bets on the nation’s startups with capital to help new companies expand and create jobs.

Authorities will encourage investment from various sources including local government-backed entities, SOEs and insurers while relaxing restrictions on foreign investors, according to a statement Thursday after a State Council meeting led by Premier Li Keqiang.