Last year, the leading securities companies underwriting the sci-tech innovation bonds exceeded 1 trillion yuan for the first time, a year-on-year increase of 66.52%.

The China Securities Industry Association has released the special statistics report on securities companies' bond underwriting business for the year 2025. The data shows that the underwriting amount of various types of bonds, such as technology innovation bonds and private enterprise bonds, achieved significant growth in 2025. Specifically, the underwriting amount of technology innovation bonds exceeded 1 trillion yuan, a year-on-year increase of 66.52%. Li Yong, the chief fixed income analyst at Dongwu Securities, said in an interview with reporters, "For the market, actively underwriting technology innovation bonds will help guide social capital towards key areas of technological innovation, accelerate the transformation of cutting-edge technology achievements into real productivity. For securities companies themselves, actively focusing on underwriting technology innovation bonds will help them transform their service role from a simple financing intermediary to a deep enabler of the industry, creating a broader space for the development of comprehensive financial services in the future."