Pudong Development Bank Launches China's First Technology Innovation Asset-Backed Debt Financing Instrument for Science and Technology Enterprises

(Source: Meet SPDB)

Recently, with the joint promotion of the Interbank Market Dealers Association and the Sichuan Branch of the People’s Bank of China, the Grassroots Zhiben Group Co., Ltd. (hereinafter referred to as “Grassroots Zhiben”), independently underwritten by Shanghai Pudong Development Bank, successfully issued its first batch of 2026 technology innovation bonds, “26Grassroots Zhiben MTN001 (Tech Innovation Bonds/Asset-Backed).” The bond issuance totaled 280 million yuan, with a 2-year term, an issuance rate of 2.58%, and Pudong Development Bank created a credit risk mitigation certificate (CRMW) worth 240 million yuan, marking the first-ever technology innovation asset-backed debt financing tool for tech companies nationwide.

As a platform under New Hope Group focused on food consumption industry investment and operations, Grassroots Zhiben concentrates on core sectors such as dairy products, cold chain logistics, condiments, nutrition and health, snacks, and pet food. Relying on the “industry + capital + technology” model, it continuously builds a full-chain consumer industry ecosystem. It is an important benchmark enterprise in Sichuan’s consumer industry, with subsidiaries holding over 190 patents and receiving awards such as National Intellectual Property Advantage Enterprise and Provincial Green Factory.

The successful issuance of this technology innovation bond and credit risk mitigation certificate not only provides strong support for the issuer’s issuance of medium- and long-term bonds in the public market and successfully broadens new channels for bank services to private enterprises’ public market financing but also demonstrates the active response of bank-enterprise cooperation to the national innovation-driven development strategy and supports technological innovation.

In the future, Pudong Development Bank will base its efforts on the overall regional economic development, focus on key areas such as modern consumption, advanced manufacturing, green and low-carbon initiatives, and technological innovation, continuously strengthen investment banking services, and improve direct financing channels for tech companies through innovative product forms and enhanced risk mitigation mechanisms.