Ministry of Science and Technology's Pan Xiaodong: By 2025, various entities will issue 1.8 trillion yuan in science and technology innovation bonds.

On the 27th, Pan Xiaodong, a member of the Party Leadership Group and Secretary-General of the Ministry of Science and Technology, stated at a regular press briefing by the State Council that by 2025, the Ministry of Science and Technology will work with the People’s Bank and other departments to establish a coordinated promotion mechanism for science and technology finance, enhancing collaboration between science and finance, as well as central-local linkages, achieving good results. In terms of improving the capital market’s ability to serve technological innovation, the “1+6” measures of the Sci-Tech Innovation Board have been implemented, further enhancing inclusiveness and adaptability to technological innovation. A “Technology Board” in the bond market has been launched to provide long-term, low-interest direct financing channels for financial institutions, technology enterprises, and private equity investment institutions, with various entities expected to issue technology innovation bonds worth 1.8 trillion yuan by 2025. (Shanghai Securities Journal)