Core Viewpoint - The Shanghai Stock Exchange (SSE) has introduced high-growth industry bonds to address the funding gap between investors and industry enterprises, aiming to provide a product that offers returns while ensuring investor confidence [1][2]. Group 1: Background and Market Need - The emergence of high-growth industry bonds is a response to the long-standing disconnect between investment and financing parties, exacerbated by declining interest rates and a structural asset shortage [2]. - As of June 30, 2023, the SSE has successfully launched 53 high-growth industry bonds, totaling 37.3 billion yuan, with over 80 non-bank institutions participating in these investments [2]. Group 2: Product Development and Goals - The SSE plans to normalize the issuance of high-growth industry bonds in the second half of the year, targeting a total issuance of 100 bonds by year-end [3]. - The bonds aim to break down financing barriers for industry enterprises, providing them with necessary funding while alleviating traditional financing pressures [6]. Group 3: Enhancing Investor Confidence - To address concerns about high-yield bonds, the SSE emphasizes a clear positioning of high-growth industry bonds, encouraging credit differentiation to facilitate financing for various industry enterprises [8][11]. - The SSE has implemented measures to improve information disclosure, requiring issuers to focus on repayment capabilities and enhance transparency through frequent financial data updates [8][11]. Group 4: Market Mechanisms and Support - The SSE is establishing a comprehensive service team for high-growth industry bonds, promoting better project standards and encouraging securities firms to actively underwrite these bonds [6]. - A dynamic project database has been created to provide tailored services to enterprises, with plans for market-wide training and project promotion to support the ongoing issuance of these bonds [13].