China Launches Sci-Tech Bond Market Board to Raise $40 Billion, CSRC’s Wu Qing Promises Market Opening and Overseas Firm Support

China has accelerated its issuance of science and technology bonds, aiming to raise approximately $40 billion to support innovation. The move aligns with Beijing's broader push to boost technological development. The China Securities Regulatory Commission (CSRC), led by Chairman Wu Qing, announced the launch of a "sci-tech board" in the bond market to facilitate this initiative. Wu highlighted the importance of vigorously developing science and technology during a State Council Information Office press conference on May 7. Additionally, the CSRC pledged to promote a high level of market openness and streamline listing procedures. It also plans to assist high-quality Chinese firms listed overseas in offering shares on mainland China and Hong Kong markets. This initiative has attracted significant interest from Chinese companies looking to capitalize on the government's technology-driven growth strategy.