Underwriting and market making activities are frequently seen, as securities firms actively explore new paths to serve the science and technology innovation bond market.

date
26/05/2025
Under the dual drive of policy guidance and market innovation, securities firms are actively contributing to the construction of a "technology board" for the bond market. Reporters have learned from the industry that in addition to underwriting science and technology innovation bonds, securities firms are exploring new paths for market-making for these bonds, hoping to promote the coordinated development of the primary and secondary markets through the "underwriting + market-making" model, and activate the market ecology for science and technology innovation bonds. In the view of industry insiders, securities firms are currently making efforts to link the primary and secondary markets for science and technology innovation bonds, facing challenges in terms of qualifications assessment and funding costs, but also welcoming new opportunities for their own development. Against this background, the market is eagerly looking forward to further improvements in mechanism arrangements and creating a favorable ecosystem for the "long-term and sustainable" use of funds for science and technology innovation.