The scale of issuance exceeds 1.7 trillion yuan, and the ecological environment of the science and technology innovation bond market is gradually improving.

In 2025, the "Technology Board" of the bond market made its debut, and so far, the scale of innovative bonds has exceeded 1.7 trillion yuan. During this year's two sessions, the People's Bank of China announced that it will promote the construction of the "Technology Board" in the bond market. On May 7th, the People's Bank of China and the China Securities Regulatory Commission jointly issued an announcement on supporting the issuance of technology innovation bonds, officially announcing the establishment of the bond market's "Technology Board" and ushering in a new era of rapid development for innovative bonds. Market participants believe that this will broaden the financing channels for technology innovation enterprises, guide bond market funds to invest in early-stage, small-scale, long-term, and hard technology projects, stimulate technological innovation and market vitality, and help cultivate new productive forces. By 2025, the scale of innovative bonds will not only increase significantly, but the ecological construction will also gradually improve. Not only will there be the emergence of innovative bond ETFs to enhance market liquidity and participation, but also credit risk mitigation tools and credit default swaps to continuously innovate, better protecting investors.