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Xinhua Silk Road
Industry

Sci-tech enterprises in Shanghai raise RMB5.461 bln from sci-tech innovation board last year

February 25, 2020


Abstract : Science and technology-driven enterprises in east China's Shanghai financed 5.461 billion yuan from the science and technology innovation board last year, reported Shobserver.com citing a report released by the People's Bank of China Shanghai Head Office Monday.

BEIJING, Feb. 25 (Xinhua) -- Science and technology-driven enterprises in east China's Shanghai financed 5.461 billion yuan from the science and technology innovation board last year, reported Shobserver.com citing a report released by the People's Bank of China Shanghai Head Office Monday.

The aggregate, calculated since debut of the board in June 2019, accounted for 69.9 percent of their annual financing via initial public offerings (IPO) while financing of the type on the main board and ChiNext market took up 30.1 percent share in 2019.

Boosted by funding via the board, their outstanding equity financing by the end of 2019 grew 8.5 percent from the beginning of the year to 298.204 billion yuan.

In spite of these, their bond financing expanded by a faster pace last year, up 30.4 percent year on year to 115.958 billion yuan.

For private equity financing, the yearend figure rose 14.7 percent from the beginning of 2019 and was composed mainly of venture capital financing.

Compared with direct financing, however, indirect financing remained the major financing channel. By the end of 2019, the outstanding loans reached 239.742 billion yuan, up 22.8 percent year on year, which was 15.6 percentage points higher than the growth of comparable data for local non-financial enterprises.

What's noteworthy, deeper cooperation for long-term win-win situations is gradually taking shape for financial institutions and sci-tech enterprises in Shanghai as the latter enjoyed on the whole more and more low-cost financing in the past year.

In the fourth quarter of 2019, weighted average borrowing rates of new loans and weighted average yields of newly-issued bonds for Shanghai-situated sci-tech enterprises was 4.28 percent and 2.41 percent respectively, down 25 basis points (bp) year on year and 45 bps on quarter.  (Edited by Duan Jing, duanjing@xinhua.org)

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Keyword: Shanghai financing sci-tech innovation board

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