The launch and concentrated roadshow of the technology innovation bonds, sponsored by the China Interbank Market Dealers Association and hosted by the Beijing Financial Assets Exchange, was held in Beijing a few days ago. The reporter learned from the event that as of May 9, the first batch of 36 corporate technology innovation bonds in the interbank market have been announced to be issued at 21 billion yuan, and the project involves many cutting-edge emerging fields such as integrated circuits, intelligent computing centers, and new materials.

  The registration and issuance of technology innovation bonds marks the sailing of the "technology board" in the bond market. "Technological innovation is the core engine to promote high-quality economic development, and science and technology innovation bonds are an important link connecting the capital market and scientific and technological innovation." said Cao Yuanyuan, deputy director of the Financial Market Department of the People's Bank of China.

  Cao Yuanyuan advocated that issuing entities should make good use of and fully raise funds, and the investment entities should establish long-term value investment concepts for scientific and technological innovation bonds, share technological dividends, encourage the market to flexibly design bond terms, and promote more financial vitality to the innovation highland.

  On May 7, the People's Bank of China and the China Securities Regulatory Commission jointly issued an announcement on matters related to the issuance of science and technology innovation bonds. On the same day, the Traders Association issued the "Notice on the Launching of Science and Technology Innovation Bonds to Build a "Technology Board" in the Bond Market" (hereinafter referred to as the "Notice").

  Bao Xiangming, deputy secretary-general of the China Interbank Market Dealers Association, said that after the release of the "Notice", the market responded enthusiastically and many institutions actively participated in the registration and issuance. As of May 9, the first batch of 36 technology innovation bonds have been announced to be issued at 21 billion yuan. The issuing entities include 22 technology-based enterprises such as BOE and iFLYTEK, as well as 14 equity investment institutions such as Yuanhe Holdings and Luxin Venture Capital. Among them, there are 9 private enterprises with an issuance scale of 6.3 billion yuan.

  "The preparations are ready and are about to enter the substantial issuance stage. We look forward to completing this round of financing as soon as possible with intermediary institutions and investors." Duan Dawei, senior vice president of iFlytek Co., Ltd., said in an interview with reporters at the event. Duan Dawei said that iFlytek's annual R&D investment will account for more than 20% of its sales revenue. Enterprise development requires continuous innovation and also needs the support of the financial market. iFlytek is willing to try to use this new financial tool to better support corporate development.

  Chen Wei, chairman of Shenzhen Oriental Fuhai Investment Management Co., Ltd., said in an interview on the spot that equity investment institutions issued bonds in the bond market in the past, firstly because the maturity was short, and secondly because the issuance interest rate was relatively high. "This time the bond issuance period is longer, which is more consistent with the fund's investment period. At the same time, the bond issuance has introduced credit-enhancing measures to enhance the company by introducing China Bond Credit, which will help to reduce issuance costs and be recognized by the market to a higher degree." Chen Wei said that these will stimulate the enthusiasm of venture capital institutions.

  Xi'an Zhongke Optical Machinery Investment Holdings Co., Ltd., which participated in the roadshow, is a state-owned scientific and technological achievements transformation platform. Its financial director Yang Ting said that Xi'an Holdings previously relied on equity financing and bank credit financing to achieve fundraising, and is a "newcomer" in the bond market. The significant advantage of science and technology innovation bonds is that the funds raised can be used specifically in the equity investment field, which provides key financial support for the technology incubation platform. According to her, no less than 80% of the bond funds raised by Xike Holdings will be used to support the field of scientific and technological innovation, mainly investing in advanced manufacturing, new generation information technology and photonics industry. (Reporter Zhang Mo)

[Editor in charge: Wang Mengmeng]