china chengtong issued 2021 sci-tech innovation corporate bonds
accounting department 2021-03-24
on march 5, china chengtong issued public corporate bonds targeting science and technology innovation driven companies, making the group the first batch of science and technology innovation corporate bond issuers in china. the amount of the bonds is 1 billion yuan with a maturity of 3 2 years. capital raised from the bonds will be invested in high-tech industries and strategic emerging industries such as information technology, bio-technology, new energy, new materials, high-end equipment, new energy vehicles, environmental protection, aerospace, marine equipment, the internet, big data, artificial intelligence, integrated circuit, new generation civil aircraft innovation, new drug creation, energy saving technology via china structural reform fund (csrf) and its sub-funds.
the successful issuance of the sci-tech innovation bonds is only made possible under the strong support and guidance of the china securities regulatory commission (csrc) and the shanghai stock exchange (sse), which also shows the recognition of the group’s brand in the capital market. it further effectively reduces the financing cost of scientific and technological innovation enterprises, supports the follow-up investment plan of csrf, and creates a new mode of corporate bonds to support the development of scientific and technological innovation enterprises. at the same time, this issuance is helpful in guiding financial resources to the field of scientific and technological innovation and promoting the continuous optimisation of resource allocation pattern by giving play to the function of financial support for the rapid development of scientific and technological innovation industry. this issuance also helps to support the group’s strategic plan of investing in forward-looking strategic emerging industries and high-tech industries, and continuously improve the operation ability of state-owned capital.