Core Viewpoint - The recent implementation of the "counter channel + sci-tech bonds + re-loan" linkage model in Zhejiang Province has successfully facilitated the first counter channel sci-tech bond pledge re-loan business, enhancing the range of collateral for re-loans in small and medium-sized banks [1][2]. Group 1: Advantages of the New Model - The new model effectively connects the bond market with the credit market to support technological innovation. Jin Hua Bank purchased sci-tech bonds to support the issuing institution and subsequently pledged these bonds to secure a re-loan of 7 million yuan, directing all funds towards technology-oriented small and micro enterprises [1]. - The model broadens the investment channels for financial institutions in trading sci-tech bonds. During the process, Industrial Bank provided a green channel for Jin Hua Bank, optimizing the business workflow and completing the pledge and re-loan approval within two working days, thus saving on transaction and account maintenance fees compared to interbank bond market transactions [1]. - The model enhances the activity level of the secondary market for sci-tech bonds. By purchasing and pledging these bonds, Jin Hua Bank has increased the application scenarios for sci-tech bonds, which is expected to boost investor interest and support the expansion of the sci-tech bond market [2].