China has shortened the wait times for loss-making tech companies listed on its stock exchanges to seek refinancing and post-IPO fundraising. Three major stock exchanges announced they will cut the refinancing period from 18 months down to as little as six months. This new rule targets tech firms under regulations for companies with consecutive losses. Earlier, such companies had to wait 18 months and could allocate only up to 30% of raised funds for working capital. Now, firms can use any excess funds for research and development linked to their core business. According to state news agency Xinhua, the exchanges want to "streamline refinancing reviews for quality companies with strong governance and disclosure records." Beijing's push aims to support "quality firms and scientific innovation," signaling stronger backing for tech self-reliance in the country.