China will launch a "sci-tech board" in its bond market to promote the issuance of sci-tech innovation bonds by financial institutions, tech firms and private equity investment institutions, the country's central bank governor said Thursday.
At a press conference on the sidelines of the third session of the 14th National People's Congress, Pan Gongsheng, governor of the People's Bank of China (PBOC), highlighted the central bank's efforts in recent years, in collaboration with relevant departments, to enhance financial support for scientific and technological innovation through a comprehensive use of equity, debt, insurance, and other financial instruments.
"Recently, to further enhance financial support for scientific and technological innovation, the PBOC, together with the China Securities Regulatory Commission, the Ministry of Science and Technology and other departments, will introduce a 'sci-tech board' in the bond market. We will support financial institutions, tech firms and private equity investment institutions in issuing science and technology innovation bonds and expanding the product system," said Pan.
"We will optimize the re-loaning policy for technological innovation and transformation. This policy is already in place, and we plan to further refine it and expand the scale of re-loaning from the current 500 billion yuan (about 68.9 billion U.S. dollars) to between 800 billion and one trillion yuan (about 110 to 137 billion U.S. dollars) to better meet enterprises' financing needs. We will lower the interest rates for re-loaning, expand the scope of re-loaning support, and significantly enhance policy coverage. Meanwhile, we will maintain the level of loan interest subsidies so as to really bring down the financing costs for enterprises. We will optimize the re-loaning process as well," he said.
Pan stated that the next step will involve strengthening collaboration with relevant departments to enhance the policy framework for financial support of technological innovation, fostering a financial market ecosystem that nurtures innovation, and continuously improving the effectiveness, scale, and level of financial support in this sector.
"We welcome international investors to invest in Chinese science and technology enterprises, and oppose turning market-based investment into a tool or use it politically, and we are against the imposition of unreasonable investment barriers," said Pan.
China to launch "sci-tech board" in bond market
The Boao Forum for Asia (BFA) 2026 Annual Conference opened in the town of Boao, south China's Hainan Province on Tuesday with an eye on China's vibrant economic development and global free trade.
On the first day of the annual conference, seven sub-forums were held, focusing on topics such as China's economic outlook, global free trade ports, and the green economy.
As 2026 marks the start of China's 15th Five-Year Plan (2026-2030), attendees at the BFA say China's economy has entered a new stage of high-quality development, which will bring tremendous opportunities to the rest of the world.
"China has changed from a factory to an innovation center of the world. So now, [when] we talk about any technology -- renewable energy, green development [and] AI -- China is leading the world. This change has taken place in a very short period of time," said Zafar Uddin Mahmood, policy advisor to secretary general of the Boao Forum for Asia.
"The type of planning is very positive for business in a general way, because it brings a lot of stability [and] predictability for a businessman," Bernardo Mendia, secretary-general of the Portugal-China Chamber of Commerce and Industry, said of China's five-year plan that charts the country's path for social and economic development in the next five years.
The BFA also released two flagship reports, one on Asia' economic outlook, and the other on sustainable development.
The first report, titled "Asian Economic Outlook and Integration Progress", indicated that Asian economies remain the primary engine of world economic growth, with their global share of gross domestic product expected to rise from 49.2 percent in 2025 to 49.7 percent in 2026. It also highlighted how China and ASEAN (the Association of Southeast Asian Nations) continue to stand out as regional "stability anchors."
The second report, which was titled "Sustainable Development in Asia amid Global Transformation", noted that Asia is leading the global energy transition, with the region accounting for some 70 percent of annual new clean energy capacity installations worldwide.
This year's BFA, themed "Shaping a Shared Future: New Dynamics, New Opportunities, New Cooperation," features four core topics and more than 50 sub-forums, roundtables and dialogue sessions.
Founded in 2001, the BFA has grown into a key platform for addressing Asian issues and strengthening cooperation both within the region and globally.
Boao Forum for Asia Annual Conference 2026 opens in China's Hainan Province
