Jilin issues 1st interbank sci-tech innovation bond

Northeast China's Jilin province has issued its first interbank market science and technology innovation bond on Nov 5, marking a major breakthrough in financial support for innovation.

Under the guidance of the Jilin Provincial Branch of the People's Bank of China (PBC), the Jilin Province State-owned Capital Operation Group issued the "25 Jilin Capital MTN002 (sci-tech innovation bond)".

The 5-year bond raised 500 million yuan with a coupon rate of 2.5 percent and an oversubscription ratio of 3.7. It is also the first tech innovation bond issued by an equity investment institution across Northeast China.

As the province's sole State-owned capital operation platform, the group holds an AAA rating and invests in high-tech, specialized, and listed enterprises through direct equity and fund investments. All proceeds from this bond will support innovation-driven enterprises and emerging industries in Jilin.

Behind this milestone stands the PBC's Jilin Branch, which has built a comprehensive support system for corporate financing through innovation bonds. It has promoted risk-sharing mechanisms, established a reserve of eligible sci-tech enterprises, launched awareness campaigns, and facilitated partnerships among governments, banks, and businesses.

Jilin is accelerating the integration of finance and technology, bringing fresh momentum to the development of new high-quality productive forces.