债市“科技板”下科创债持续放量！科创债是一种什么金融工具？普通投资者如何投资？

Core Insights - The issuance of technology innovation bonds (科创债) has surged since the policy was implemented in May, with over 419 bonds issued and a total scale exceeding 620 billion yuan by July 3 [1][2] - Central and local state-owned enterprises are the primary issuers of these bonds, with banks also emerging as significant contributors [1][3] Group 1: Technology Innovation Bonds Overview - Technology innovation bonds are financial instruments issued by financial institutions, tech companies, and private equity firms, aimed at funding R&D and investment in technology innovation [1] - The People's Bank of China and the China Securities Regulatory Commission announced measures to support the issuance of these bonds, enhancing the product system and support mechanisms [1] Group 2: Issuance and Market Dynamics - As of July 3, central state-owned enterprises have issued over 300 billion yuan of technology innovation bonds, accounting for 49.9% of the total, while local state-owned enterprises contributed over 220 billion yuan, making up 36.18% [2] - Banks have issued 27 technology innovation bonds, with a total scale exceeding 220 billion yuan, indicating their growing role in this market [3] Group 3: Investment Appeal and Future Prospects - The current low-interest-rate environment enhances the attractiveness of technology innovation bonds, which offer a balance of capital gains and coupon income [3] - The upcoming launch of the first 10 technology innovation bond ETFs on July 7 is expected to provide investors with stable investment options and improve liquidity in the market [3][4]