I'm LongbridgeAI, I can summarize articles.The Boom of Sci-Tech Bonds
Two brokerage giants approved to issue sci-tech bonds!
On June 16, CSC disclosed an announcement stating that the People's Bank of China has approved the company to issue no more than 6 billion yuan of sci-tech innovation bonds in the national interbank bond market, specifically to support investment and financing in the field of sci-tech innovation. The administrative license is valid from June 11, 2025, to June 10, 2027, and the company can choose the issuance timing independently within the validity period.
HTSC disclosed on the same day that the company received approval from the China Securities Regulatory Commission to publicly issue sci-tech innovation corporate bonds with a total face value of no more than 10 billion yuan to professional investors. This approval is valid for 24 months from the date of registration, and the company can issue the sci-tech innovation corporate bonds in phases during the registration validity period.
What are sci-tech bonds?
Sci-tech innovation corporate bonds, abbreviated as sci-tech bonds, are special corporate bonds launched to support the development of the sci-tech innovation field, aimed at providing low-cost and efficient financing channels for tech enterprises, research institutions, and others, assisting the national innovation-driven development strategy.
On May 7, 2025, the People's Bank of China and the China Securities Regulatory Commission jointly issued the "Announcement on Supporting the Issuance of Sci-tech Innovation Bonds" (〔2025〕No. 8), systematically proposing relevant measures to support the issuance of sci-tech innovation bonds from multiple dimensions, including enriching the product system and improving supporting mechanisms.
Leading institutions actively participate
According to Wind data, from May 7 to June 15 of this year (counting from the issuance start date), a total of 29 brokerages have issued 33 sci-tech bonds. In terms of maturity, they mainly include two-year, three-year, and ten-year types, with issuance rates ranging from 1.64% to 2.29%, and a total issuance scale of 28.47 billion yuan.
Reviewing publicly available information, as of now, China Merchants Securities has taken the lead, having issued 5 billion yuan of sci-tech bonds, ranking first among brokerages. CITIC Securities and Guotai Junan have both issued 2 billion yuan, ranking second.
Dongxing Securities research report pointed out that sci-tech innovation bonds are gradually covering financing platforms along the upstream and downstream of the sci-tech industry chain, clearly including commercial banks, securities companies, financial asset investment companies, as well as private equity investment institutions and venture capital institutions as issuers