Nine banks' first phase of Sci-Tech Innovation Bonds will have a total issuance size of 120 billion yuan.

Banking institutions continue to increase the issuance of technology innovation bonds, and bond funds are flowing rapidly into technology innovation enterprises. On May 16, Shanghai Bank is set to issue the first tranche of technology innovation bonds due in 2025, with an issuance size of 5 billion yuan. According to information publicly available on the Chinese Money website, as of May 14, 9 banks have issued announcements related to the first tranche of technology innovation bonds due in 2025, with 8 banks already completing their issuance. These banks include the China Development Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Communications, Industrial Bank, Shanghai Pudong Development Bank, Hangzhou Bank, and Bohai Bank. The total issuance size of technology innovation bonds from these 9 banks will reach 120 billion yuan. Several banks have indicated that the funds raised will be targeted towards the field of technology innovation, providing financial support for the growth and development of technology innovation enterprises.