China encourages foreign capital to set up R&D centres in the country

BEIJING (Reuters) - China issued a notice on Wednesday to encourage foreign investment to set up research and development (R&D) centres in the country, according to a statement by the State Council, or the cabinet.

China also encourages financial institutions to offer financial support to those centres and will support legal cross-border R&D data flows, said the statement.

(Reporting by Ellen Zhang and Kevin Yao; Editing by Kim Coghill)