超1.3万亿！今年以来科创债发行数据一览

Core Viewpoint - The article discusses the increasing popularity and issuance of Sci-tech bonds in the market, highlighting the expansion of eligible issuers and the supportive policies that have led to a significant rise in issuance volume [1][8]. Group 1: Expansion of Issuers - As of August 13, 2025, there are 847 domestic issuers of Sci-tech bonds, with 113 being equity investment institutions and 95 being financial institutions [6]. - The top 10 institutions by balance of Sci-tech bonds include Wuhan Optics Valley Financial Holding Group with a balance of 98.20 billion, and Shanghai State-owned Capital Investment Co. with 90.00 billion [6]. Group 2: Simplification of Information Disclosure - Recent policies have simplified or exempted the disclosure of sensitive information for issuers, allowing for a more streamlined registration process [7]. - By mid-2025, 60 Sci-tech bond projects had been registered, with 25 on the Shanghai Stock Exchange and 11 on the Shenzhen Stock Exchange [7]. Group 3: Growth in Issuance Scale - In 2025, a total of 1,177 Sci-tech bonds were issued, representing a 63% increase compared to the same period last year [8]. - The issuance scale for the second quarter of 2025 saw significant growth compared to the first quarter, with various regions actively participating [8]. Group 4: Securities Company Assessment - The China Securities Association has implemented a special evaluation method for securities companies, focusing on their performance in underwriting Sci-tech bonds [11]. - As of 2025, there are 124 main underwriters for Sci-tech bonds, with CITIC Securities leading with an underwriting scale of 1,108.27 billion [11]. Group 5: Risk Mitigation and Credit Enhancement - Various mechanisms have been established to provide credit enhancement for technology enterprises and equity investment institutions, including guarantees and credit risk mitigation instruments (CRMW) [12]. - By mid-2025, 14 CRMWs had been registered, aimed at enhancing the creditworthiness of issuers [12].