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关于科技金融，央行最新发声
Zhong Guo Zheng Quan Bao·2025-10-19 11:26

Core Insights - The People's Bank of China emphasizes the need for countries to develop financial systems that align with their technological development stages, highlighting the importance of direct financing and a multi-tiered capital market to support innovation-driven growth [1] Group 1: Financial System Development - The development of a financial system that supports innovation is crucial for deepening structural reforms in the financial supply side and establishing a modern central banking system [1] - The introduction of the "Technology Board" in the bond market aims to connect the bond market with equity markets, focusing on supporting equity investment institutions [2] Group 2: Bond Market Innovations - Since the launch of the "Technology Board," approximately 670 billion yuan in technology innovation bonds have been issued by around 280 entities, with 191 technology companies involved [2] - The bond issuance by technology companies is diverse, covering sectors such as integrated circuits, high-end manufacturing, and biomedicine [2] - Nearly half of the technology companies have issued bonds with maturities of three years or more, with equity investment institutions averaging a maturity of 5.8 years [2] - The average coupon rate for these bonds is approximately 2%, indicating strong market demand and active trading [2] Group 3: Structural Monetary Policy Tools - The People's Bank of China has introduced various structural monetary policy tools to promote the development of technology finance, including increasing the quota for technology innovation and technological transformation relending to 800 billion yuan [3] - The bank has also launched a carbon reduction support tool, facilitating the issuance of green loans totaling 1.4 trillion yuan, contributing to significant carbon emission reductions [3] - The central bank aims to cultivate a financial market ecosystem that supports technological innovation and encourages both domestic and international investors to participate in China's technology sector [3]