Shanghai Municipal Development and Reform Commission and other departments
issued measures to bolster tech finance, including deepening a bond-market
"technology board." The package promotes local deployment of policy
tools—private-enterprise bond risk-sharing, the national financing guarantee
fund—and urges financial institutions to develop credit-risk mitigation
instruments to form a central-local coordinated credit enhancement framework
supporting tech-innovation bond issuance. The measures call for using Shanghai
interest-subsidy programs to back eligible issuers and for product innovation,
including support for tech convertible bonds and other equity-debt linked
instruments.
