The People's Bank of China and other departments issued the “Guiding Opinions on Financial Support for the Construction of International Science and Technology Innovation Centers in Beijing, Shanghai, Guangdong-Hong Kong-Macao Greater Bay Area”. Market institutions are encouraged to create indexed science and technology innovation bond products to provide diversified asset allocation tools in the field of science and technology innovation. Encourage the application of credit risk mitigation certificates (CRMW), credit protection tools, etc. to support the issuance and investment of science and technology innovation bonds. Make good use of technological innovation and private enterprise bond risk sharing tools, support private enterprise bond risk sharing mechanism policies, and provide guarantees and credit enhancement for eligible private technology-based enterprises and private equity investment institutions to issue and finance bonds. Encourage local authorities to establish comprehensive service windows or platforms for issuing science and technology innovation bonds to support the provision of “one-stop” comprehensive services such as publicity roadshows, credit enhancement and empowerment. Support research and formulation of technology innovation bond credit rating industry standards.

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