China unveiled its landmark 'sci-tech board' in the bond market on Friday, marking a pivotal step to accelerate funding for technological advancements. The initiative, spearheaded by the People’s Bank of China (PBOC), debuted with eight firms showcasing sci-tech innovation bonds at a high-profile roadshow in Beijing.
PBOC Governor Pan Gongsheng emphasized the platform's role in enabling financial institutions, tech enterprises, and investment funds to issue bonds tailored for scientific innovation. The bonds include corporate debt, enterprise bonds, and specialized instruments for non-financial firms, fostering flexible terms and longer maturities to align with R&D cycles.
'Tech-driven innovation requires long-term investment and diverse financial tools,' noted Duan Dawei, senior vice president of iFLYTEK, highlighting the board's adaptability to sector needs. The PBOC revealed nearly 100 institutions are preparing to issue over 300 billion yuan ($41.7 billion) in bonds, signaling robust market confidence.
Analysts say the move reinforces China’s strategic push to dominate emerging tech sectors while offering investors new avenues in Asia’s rapidly evolving financial landscape.
