2600亿元！银行发行科创债再扩容，30余家地方性银行涌入

Core Viewpoint - The issuance of technology innovation bonds (科创债) has expanded significantly since its launch, with local banks actively participating alongside larger financial institutions [1][4][5]. Group 1: Issuance Scale and Participants - As of September 18, 2023, 45 banks have issued 50 technology innovation bonds, totaling approximately 2580 billion yuan, with expectations to exceed 2600 billion yuan by the end of September [4]. - The participating banks include 2 policy banks, 6 state-owned banks, 6 joint-stock banks, and over 31 local banks, indicating a broad participation across different types of financial institutions [4][5]. - In September alone, several local banks, including Qilu Bank and Suzhou Bank, issued their first technology innovation bonds, with a total issuance of 94 billion yuan [3]. Group 2: Characteristics of Issued Bonds - The majority of technology innovation bonds issued by local banks have a term of 5 years, with interest rates generally ranging from 1.71% to 1.95% [5][9]. - The highest interest rate recorded for a technology innovation bond was 2.03% from Laishang Bank, while the lowest was 1.84% from Qilu Bank [3][9]. - The longest term for a technology innovation bond issued so far is 7 years, with a rate of 1.65% from the Agricultural Development Bank of China [7]. Group 3: Future Trends and Policy Support - Financial institutions are encouraged to issue longer-term bonds to better align with the funding needs of technology enterprises, as highlighted by a joint announcement from the central bank and the securities regulatory authority [8]. - There is an expectation for an increase in the issuance of long-term technology innovation bonds, which would provide technology companies with access to low-cost, long-term funding [9]. - The ongoing support from policies is anticipated to further enhance the scale of technology innovation bond issuance in the future [8].