Photo taken on July 22, 2019 shows the debut ceremony of China's sci-tech innovation board (STAR market) at the Shanghai Stock Exchange in Shanghai, east China.
BEIJING, July 28 (Xinhua) -- China's financial regulators will strengthen from four aspects bond market construction to better support sci-tech innovation, reported Xinhua Finance citing Zhang Qingsong, vice governor of the People's Bank of China, the Chinese central bank, on Thursday.
Zhang made the remarks on a news briefing held on Thursday, saying that financial regulators will work to further expand the size of bond issues of sci-tech enterprises, study on advancing high-yield bond market construction, further enrich the varieties of sci-tech innovation bonds and optimize the bond financing environment for sci-tech innovation-driven enterprises including rating institutions, rating methods and rating coverage.
To boost high-yield bond market construction, tailored platforms will be built to satisfy the financing demand of sci-tech small- and medium-sized enterprises (SME) together with designing of suitable trading mechanisms and systems and more efforts on cultivation of professional investors.
To diversify sci-tech innovation bonds, issuance of hybrid sci-tech innovation instruments referring to financing vehicles that combine debts with equities and are allowed to raise funds to invest in equities of sci-tech innovation-driven enterprises are encouraged. At the same time, non-listed sci-tech enterprises are supported to issue innovative corporate bonds with options to be converted into equities of sci-tech firms. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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