Guessing:
1. Supporting of fund is not enough.
2. They don't want labour/technician from China (for language, culture and ideology reason, explicitly of course)
3. They don't believe that a university graduate working in finance are willing to work as a labour/technician.
4. etc......
conclustion: wait for the official record and ask later.
2. I am just gueesing, and I mean language, culture, ideology, (and for sure your nationality).
If you are name this as racism, it is your point of view, not mine.
(messing racism with nationality is a clear signal of having different ideology with the western world)
3. From a professional point of view, bottleneck of career is not deal with downgrading from office to labour for most people.