On May 13, China's Industrial Bank (CIB) successfully issued its first tranche of sci-tech innovation bonds in the national interbank market, with an issuance scale of RMB 10 billion, a maturity of three years, and a coupon rate of 1.66%. With market investors actively participated, the entire offering achieved 2.90 times oversubscription.
On May 7, the People's Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC) jointly issued an announcement supporting financial institutions including commercial banks, sci-tech enterprises, private equity investment firms and venture capital firms in issuing sci-tech innovation bonds. The initiative aims to direct bond market funds toward early-stage, small-scale, long-term and hard-tech investments.
As a Domestic Systemically Important Bank, CIB promptly responded by announcing its inaugural sci-tech innovation bond issuance on May 8. This issuance marks CIB's debut in sci-tech innovation bonds. The proceeds will be used, in compliance with applicable laws and regulatory approvals, to extend loans in the sci-tech innovation sector and support related business development, strictly adhering to the provisions of the “PBOC and CSRC Announcement ([2025] No. 8).”
Beyond issuing sci-tech innovation bonds independently, CIB has facilitated 11 sci-tech enterprises and equity investment institutions in completing such bond issuances, totaling RMB 8.7 billion.
In recent years, CIB has actively engaged in the virtuous cycle of “technology-industry-finance,” establishing sci-tech finance as its “fourth hallmark” to cultivate new quality productive forces, support Chinese-style modernization and drive high-quality development. As of the end of the first quarter, CIB's sci-tech finance loan balance had surpassed RMB 1 trillion.