Shenzhen Stock Exchange: Optimize the scope of special types of corporate bond issuance entities to broaden the short-term financing channels for listed companies.

On December 27, the Shenzhen Stock Exchange revised and published the "Shenzhen Stock Exchange Corporate Bond Issuance and Listing Examination Guidelines No. 7 - Special Types of Corporate Bonds (2024 Revision)" (hereinafter referred to as the "Special Type Guidelines"). The main revisions of the "Special Type Guidelines" are as follows: firstly, optimizing the scope of issuers, improving the evaluation standards for the innovation attributes of science and technology issuers, expanding the scope of issuers of science and technology innovation corporate bonds for science and technology investment and incubation, supporting issuers registered in national rural revitalization demonstration counties and enterprises with agricultural operations to issue corporate bonds for rural revitalization, and allowing eligible enterprises to support the development of small and micro enterprises through equity investment and other forms. Secondly, supporting listed companies with two consecutive years of disclosure evaluation results of A to publicly issue short-term corporate bonds, expanding the short-term financing channels for listed companies. Thirdly, further improving the disclosure and fundraising replacement period requirements for special types of corporate bonds such as green corporate bonds, rural revitalization corporate bonds, and small and micro enterprise support bonds. In recent years, the Shenzhen Stock Exchange has been practicing the concept of sustainable development, improving the functions of the bond market, increasing support for bond financing for enterprises that are in line with national industrial policies and breakthroughs in key core technologies, supporting the development of green finance, and assisting in the comprehensive revitalization of rural areas. As of the end of November 2024, the Shenzhen market had issued a total of 1.5 trillion yuan of special types of corporate bonds. Next, the Shenzhen Stock Exchange will deeply implement the spirit of the 3rd Plenary Session of the 20th Central Committee of the Communist Party of China, the Central Economic Work Conference, and the Central Financial Work Conference, implement the new "Nine Articles" requirements, in accordance with the unified deployment of the China Securities Regulatory Commission, closely following the requirements to accelerate the construction of a multi-level bond market, continuously improve the rules and regulations for corporate bond examination and supervision, actively guide capital flowing into critical links and key areas in line with national strategies, provide precise services for science and technology innovation and small and medium-sized enterprises, and continuously enhance the ability of the bond market to serve the high-quality development of the economy.