---
title: "The review of refinancing in the Shanghai market has accelerated comprehensively"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/270661633.md"
description: "Since the beginning of this year, the refinancing issuance scale in the Shanghai market has reached nearly 690 billion yuan, with an accelerated review efficiency. XHSY's convertible bond project was approved in just 40 days. Companies on the Sci-Tech Innovation Board tend to favor \"light assets and high R&D investment\" standards, with 14 companies having applied for refinancing, intending to raise 35.12 billion yuan"
datetime: "2025-12-23T22:35:25.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/270661633.md)
  - [en](https://longbridge.com/en/news/270661633.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/270661633.md)
---

# The review of refinancing in the Shanghai market has accelerated comprehensively

Data shows that since the beginning of this year, the refinancing issuance scale in the Shanghai market has reached nearly 690 billion yuan, with 114 companies accepted, 99 registered and effective; 94 companies issued, raising a total of 68.79 billion yuan. The review efficiency has also accelerated, with the convertible bond project of XHSY taking only 40 days from acceptance to approval by the listing committee, making it the fastest refinancing convertible bond project in the Shanghai market. The "light asset, high R&D investment" standard has become the main choice for companies on the Sci-Tech Innovation Board to conduct refinancing. Since its release in October 2024, 14 companies on the Sci-Tech Innovation Board have adopted this standard to apply for refinancing, with a total intended fundraising of up to 35.12 billion yuan. (SSE News)

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