China pledges to support central SOEs in issuing sci-tech innovation bonds
BEIJING — China‘s securities regulator and state asset regulator have pledged support for central State-owned enterprises (SOEs) to issue sci-tech innovation corporate bonds, the China Securities Regulatory Commission (CSRC) said on Nov 11.
China will support central SOEs to raise funds via the issuance of these bonds, and launch real-estate investment trust (REIT) pilots related to new infrastructure, such as data centers, the industrial internet and artificial intelligence, according to a notice jointly issued by the CSRC and the State-owned Assets Supervision and Administration Commission of the State Council.
Central SOEs are encouraged to increase their spending on research and development, and to use funds raised to drive the innovative and coordinated development of small and medium-sized enterprises through means such as equity contribution and supply chain finance, it said.
The move aims to give full play to the central SOEs’ leading and exemplary role in sci-tech innovation, and guide financial resources to the field of sci-tech innovation to serve the country’s innovation-driven development strategy.
The two administrations will also enhance policy coordination in regulating and serving central SOEs’ sci-tech innovation financing, according to the notice.
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