According to information, since 2025, relevant departments have been collaborating to implement the spirit of the joint announcement on supporting the issuance of sci-tech innovation bonds. Using sci-tech innovation bonds as a key tool, they have guided finance to empower technological innovation, injecting momentum for high-quality development. By the end of March, a total of 77 sci-tech innovation bonds had been issued in the region, with an issuance scale of 105.91 billion yuan, achieving growth in both quantity and quality.

For example, the first tranche of a 5.5 billion yuan sci-tech innovation bond by a local group set a record for the largest scale among local state-owned enterprises nationwide. The second tranche was the first digital yuan sci-tech innovation bond in the province and on the Shenzhen Stock Exchange. The first batch of “green + sci-tech innovation” dual-label bonds nationwide were issued. The city’s first sci-tech innovation bond by a private enterprise was successfully issued, with an interest rate reaching a relatively low level for private enterprises in the province during the same period. Several enterprises have issued bonds frequently, using low-cost, long-term funds to precisely support R&D and innovation, demonstrating capital market recognition for the region’s sci-tech innovation.

While promoting the issuance of sci-tech innovation bonds, efforts have been made to systematically plan and implement comprehensive measures to continuously improve the sci-tech financial service system. First, policy guidance has been strengthened. Relevant departments jointly issued and implemented an implementation opinion on solidly advancing the major task of sci-tech finance to support sci-tech innovation development, focusing on improving the financing accessibility for sci-tech enterprises and empowering high-level technological innovation with high-quality financial services.

Second, the promotion and implementation of a “Win-Win Enterprise Plan” has been advanced. A six-in-one integrated service model of “loan, equity, guarantee, leasing, and subsidy” has been established to provide comprehensive financial services covering the entire lifecycle for enterprises included in the plan. By the end of March, over 1,100 enterprises had signed agreements under the plan, with a total contracted amount exceeding 42 billion yuan.

Third, key industrial funds have been promoted to support sci-tech innovation development. An angel mother fund has achieved positive results in empowering sci-tech enterprise development. By the end of March, the angel mother fund had selected 45 sub-funds for potential cooperation, of which 13 had completed capital contributions and were operational. A batch of key project investments had been completed, covering key industries within the modern industrial system such as biomedicine and health, intelligent equipment and robotics, semiconductors and integrated circuits.

Fourth, the listing process for sci-tech enterprises has been accelerated. Two autonomous driving companies achieved dual listings in the US and Hong Kong stock markets. A high-end printed circuit board R&D and manufacturing company became the city’s first A+H listed company in recent years. A biomedicine company became one of the first batch of newly registered listed companies on the Sci-Tech Innovation Board’s Growth Layer. Other sci-tech enterprises, including the world’s first digital power grid research institute, a biomedicine company in the metabolic disease field, and a company in the polymer functional materials field, successfully went public.

Fifth, multiple measures have been taken to advance mergers and acquisitions among sci-tech enterprises, helping them strengthen industrial chain synergy and accelerate industrial transformation and upgrading. For instance, an acquisition of a leading credit big data company accelerated industrial structure optimization. An acquisition of a national-level specialized and sophisticated “Little Giant” enterprise improved industrial layout and extended the industrial chain. An acquisition of control in a traditional home textiles company promoted resource synergy, empowered the traditional industry to upgrade towards new quality productive forces, setting an industry example. An acquisition introduced a new energy battery company’s manufacturing and R&D base to the city, promoting a dual-drive model of “manufacturing + R&D” for the local new energy industry.

Sixth, pilot innovations have been promoted, introducing resources from major financial institutions. Active efforts have been made to facilitate the landing of pilot programs for direct equity investment by financial asset investment companies (AICs), promoting cooperation between the AICs of the five major state-owned banks and local institutions. This resulted in the establishment of 12 AIC funds in the city, with a total scale exceeding 17.8 billion yuan. The headquarters of a major bank’s AIC was successfully introduced and approved for operation, bringing a multi-billion-yuan major financial project to the city, further enhancing the comprehensive financial capacity to serve the real economy.</

Shenzhen Stock Exchange

The Shenzhen Stock Exchange (SZSE) is one of mainland China’s two major stock exchanges, founded in 1990 to support the country’s economic reforms and the development of the Shenzhen Special Economic Zone. It is particularly known for pioneering China’s market for innovative and high-growth companies, initially through its SME Board and later through the ChiNext board, launched in 2009 as a Nasdaq-style venue for technology and emerging firms.

Sci-Tech Innovation Board’s Growth Layer

The Sci-Tech Innovation Board’s Growth Layer is a specialized market segment within the Shanghai Stock Exchange’s STAR Market, launched in 2021 to support innovative small and medium-sized enterprises in their early growth stages. It provides a streamlined listing pathway for companies that may not yet meet the main board’s profitability requirements but show high growth potential in technology and innovation sectors. This initiative is part of China’s broader strategy to foster domestic technological advancement and reduce reliance on foreign capital markets.

US stock market

The US stock market, centered on exchanges like the New York Stock Exchange (founded 1792) and Nasdaq, is a global financial system where shares of public companies are traded. It evolved from informal agreements under a buttonwood tree to a highly regulated electronic marketplace, fueling economic growth by enabling companies to raise capital and investors to own a stake in businesses. Its history is marked by periods of dramatic booms and busts, such as the Great Depression crash of 1929 and the 2008 financial crisis, which have led to major regulatory reforms.

Hong Kong stock market

The Hong Kong stock market, officially known as Hong Kong Exchanges and Clearing (HKEX), was founded in 1891 and has grown into one of the world’s largest and most significant financial hubs. Its modern prominence was cemented after Hong Kong’s return to China in 1997, operating under the “one country, two systems” principle to serve as a critical gateway for capital flowing into and out of mainland China. Today, it is renowned for its high volume of IPOs, particularly for major Chinese companies seeking international investment.

A+H listed company

An “A+H listed company” is not a physical place or cultural site, but a financial term for a corporation that is simultaneously listed on both the Mainland Chinese A-share market (e.g., Shanghai or Shenzhen stock exchanges) and the Hong Kong Stock Exchange (H-shares). This dual-listing structure emerged in the late 1990s and early 2000s, allowing Chinese firms to access both domestic capital and international investment through Hong Kong. It represents a significant feature of China’s financial market integration.

national-level specialized and sophisticated ‘Little Giant’ enterprise

A “national-level specialized and sophisticated ‘Little Giant’ enterprise” is a type of Chinese company recognized by the government for its high-tech specialization, innovation, and strong market niche, often in advanced manufacturing or key industrial sectors. These firms are typically small-to-medium-sized “hidden champions” that have grown through a national cultivation program launched in recent years to strengthen China’s industrial supply chain and technological self-reliance. The designation reflects a strategic push to develop domestic leaders in core technologies, with many having a history of deep expertise and R&D focus in their specific fields.

five major state-owned banks

The “five major state-owned banks” refer to China’s largest state-controlled commercial banks: Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Bank of China (BOC), Agricultural Bank of China (ABC), and Bank of Communications (BoCom). They originated from the restructuring of China’s banking system, with most evolving from specialized state banks established in the mid-20th century before becoming publicly traded while retaining majority government ownership. Today, they form the core of China’s financial system, supporting national economic policy and serving millions of customers domestically and globally.

major bank’s AIC

Based on the provided term “major bank’s AIC,” this likely refers to the **Art Institute of Chicago (AIC)**, a major art museum founded in 1879. It is known for its vast and diverse collection, ranging from ancient artifacts to modern masterpieces, and is famously located in Grant Park. The museum’s iconic neoclassical building was constructed for the 1893 World’s Columbian Exposition.