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PBOC-CSRC Announcement on Supporting the Issuance of Sci-Tech Innovation Bonds

中国人民银行 中国证监会关于支持发行科技创新债券有关事宜的公告

Policy rule expanding sci-tech innovation bonds for financial institutions, technology enterprises, private equity institutions, and venture-capital institutions, with flexible terms, simplified disclosure, specialized ratings, market-making, and risk-sharing support.

Use It For

Use this for the 2025 policy turn toward a bond-market “technology board” and for questions about how debt-finance rules can be used to support national innovation policy.

Teaching Notes

The announcement is useful because it links corporate debt finance to issuer expansion, flexible bond terms, simplified disclosure, specialized credit ratings, market-making, and credit-risk mitigation.