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China will encourage integrated circuit and software firms to list at home and abroad

BEIJING (Reuters) - China will encourage qualified integrated circuit and software firms to list and raise money at home and abroad, and speed up the domestic listing review process, the state council said on Tuesday.

China will encourage private capital to set up funds to support the industry, and enhance financing guarantee services for smaller companies in the sector, the cabinet said in a statement on its website.

It also said the country will offer tax exemptions and reductions for some integrated circuits and software companies.

Reporting by Lusha Zhang, Judy Hua, Roxanne Liu and Brenda Goh, editing by Louise Heavens

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