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On May 22, Zhu Hexin, Vice Governor of the People's Bank of China and Administrator of the State Administration of Foreign Exchange, addressed a press conference where he emphasized the critical need to support equity investment institutions among issuers of technology innovation bonds. These institutions play a pivotal role in funding early-stage, small, and hard technology enterprises, yet they grapple with challenges such as asset-light operations, prolonged investment cycles, and their own debt financing issues characterized by short maturities and high costs. Consequently, the introduction of the bond market's 'Tech Board' is designed to mitigate the issues of short maturities and high financing costs associated with debt issued by equity investment institutions.
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