In a breakthrough move reshaping tech financing, China has launched its first sci-tech board in the bond market. The debut of sci-tech innovation bonds on Friday at the Beijing Financial Assets Exchange marks a dynamic new chapter for technology enterprises and financial institutions alike.
A roadshow showcased the first eight firms to issue these bonds in the interbank market, emphasizing a fresh strategy to support scientific and technological innovation. According to Pan Gongsheng, governor of the People's Bank of China, this initiative will empower financial institutions, technology enterprises, and equity investment funds with tailored financial tools.
The new bonds, including corporate bonds, enterprise bonds, and debt financing instruments from non-financial enterprises, offer flexible terms and longer maturities. This design meets the long-cycle needs of tech-driven projects—kind of like hitting the refresh button on tech funding! 🚀
With nearly 100 market institutions set to issue over 300 billion yuan worth of sci-tech innovation bonds, this move promises to energize the tech landscape with innovative financing options that could spark breakthrough technologies for years to come.
Reference(s):
cgtn.com
