On May 20, the CSRC said that in order to thoroughly implement the decisions and arrangements of the CPC Central Committee and the State Council, improve the ability of independent innovation and promote the tackling of core technologies in key fields, the CSRC guided the Shanghai and Shenzhen Stock Exchange to officially launch scientific and technological innovation corporate bonds on the basis of early pilot projects, so as to further enhance the financing service ability of the capital market for scientific and technological innovation enterprises.
It is reported that the science and technology innovation bond aims to strengthen the precise support and direct funding of the bond market in the field of science and technology innovation. It mainly serves four types of issuers: Science and innovation enterprises, science and innovation upgrading, science and innovation investment and science and innovation incubation, and focuses on supporting the financing needs of high-tech industries, strategic emerging industries and transformation and upgrading of traditional industries.
The Shanghai and Shenzhen Stock Exchange will provide supporting support in the audit process and the use of funds. At the same time, it will also make targeted arrangements for the special information disclosure of scientific and technological innovation, and require intermediaries to earnestly perform the verification responsibility. In the early stage, the Shanghai and Shenzhen Stock Exchange has carried out the pilot work of scientific and technological innovation bonds. China Chengtong, Guoxin holding, Xiaomi communication, Tcl Technology Group Corporation(000100) , Beijing Centergate Technologies (Holding) Co.Ltd(000931) development, Shenzhen Venture Capital and other enterprises have issued 31 products and raised 25.3 billion yuan. The funds are mainly invested in frontier fields such as integrated circuit, artificial intelligence and high-end manufacturing.
The CSRC said that in the next step, it will further optimize various measures of market service, guide all parties in the market to actively participate in debt investment and financing activities of scientific and technological innovation, and improve the quality and efficiency of capital market service for scientific and technological innovation.
