Core Viewpoint - The recent joint issuance of the "Policies and Measures to Accelerate the Construction of a Science and Technology Financial System" aims to support high-level technological self-reliance and innovation in China through the establishment of a dedicated "Technology Board" in the bond market [1][3]. Group 1: Establishment of the Technology Board - The establishment of the "Technology Board" in the bond market is a significant focus, addressing the challenges in the fundraising process for technology enterprises [3]. - Approximately 100 institutions are currently issuing technology innovation bonds, with total issuance exceeding 250 billion [1][5]. Group 2: Support for Technology Innovation Bonds - The "Technology Board" will allow for flexible issuance of bonds, simplified disclosure requirements, and the ability for issuers to design their own bond terms [3]. - Measures include waiving transaction fees and providing specialized market-making services to enhance the bond issuance process for technology firms [3]. Group 3: Focus on Equity Investment Institutions - Equity investment institutions are identified as key players in supporting technological innovation, particularly in fostering the formation of innovation capital [4]. - The "Technology Board" aims to address the issues of short financing terms and high costs faced by equity investment institutions by creating risk-sharing tools and providing low-cost refinancing options [4][5].
央行:已有100家左右机构在发行科技创新债券,已超2500亿
Sou Hu Cai Jing·2025-05-22 09:35