Three months have elapsed since the implementation of the new policy on sci-tech innovation bonds. During this period, a staggering 883.159 billion yuan worth of these bonds have been newly issued, with financial institutions such as banks and securities firms accounting for nearly 36% of this total. As of August 10, while state-owned enterprises and large institutions continue to dominate the issuance landscape, there has been a notable increase in the participation of small and medium-sized institutions and private enterprises. In the past three months, the average coupon rate for newly issued sci-tech innovation bonds stood at 1.9282%, with the lowest rate recorded at an astonishing 0.01%. Huatai Securities anticipates an uptick in the supply of new bond varieties, including sci-tech innovation bonds, in the second half of the year, and expects some private enterprise bonds to make a comeback through the "Technology Board".