In March, ZGC Development Group publicly issued 2021 Sci-tech Innovation Corporate Bonds (Phase I) of 1 billion yuan for professional investors. This bond has a coupon rate of 3.76% and a market multiple of 2.3, with a maturity of 3 years and a corporate credit rating of AAA. It is among China’s first bonds issued by sci-tech innovation companies and the single first bond of this kind in Beijing.

This sci-tech innovation bond is launched under the framework of “innovation and entrepreneurship bonds” in the exchange bond market, to further leverage the leading role of sci-tech innovation. 

This bond will provide low-cost funds for basic research on industrial technology, innovation research on cutting-edge technology, and the construction of research institutions through making full use of the capital market to optimize the allocation of resources and smoothing direct financing channels for the innovation and technology sector.

In addition, it will also promote the backbone enterprises to play a leading and supporting role in key sci-tech sectors and actively explore financing models of strategic emerging industry chain, in order to provide financial support for entities along the innovation chain, notably small- and medium-sized technologically innovative firms.