The "25 CCCC Tianhang MTN001 (Sci-Tech Innovation Bond)", underwritten by China Merchants Bank's Tianjin branch, has been successfully issued, marking a milestone as Tianjin-based enterprises surpass 20 billion yuan in total issuance of sci-tech innovation bonds in the interbank market. This achievement ranks Tianjin 8th nationally and achieves full coverage of issuer types.

According to insights from the People's Bank of China Tianjin Branch, Tianjin's sci-tech innovation bond issuances highlight four key features:

1. **Leading Issuance Scale Nationally**: To date, eight tech firms, two financial institutions, and two equity investment firms in Tianjin have issued 23 sci-tech innovation bonds, raising 20.118 billion yuan, placing the city 8th in national rankings.

2. **Comprehensive Issuer Coverage**: Tianjin is one of 12 provinces achieving full issuer coverage across financial institutions, tech firms, and equity investment entities. Notably, private enterprises like iHealth Labs and TEDA Technology Investment have issued bonds totaling 1.35 billion yuan, making Tianjin one of only three provinces with issuances from both private tech firms and private equity investors.

3. **Prominent Long-Term Bonds**: Of the 23 bonds, 16 have maturities of three years or longer, accounting for nearly 70%, with the longest term reaching 10 years. This aligns with the extended timelines and high capital needs of sci-tech projects, offering firms stable, low-cost, and flexible financing.

4. **Targeted Fund Allocation**: Proceeds from these bonds are channeled into sci-tech sectors through diverse avenues. Two corporate banks have supported over 200 tech firms via loans and bond investments, while two equity investment firms established three sci-tech industrial funds, backing nine early- or growth-stage projects—adhering to the policy of "investing early, small, long-term, and in hard tech".