On December 17, 2025, China Foreign Exchange Trade System supported Ping An Bank Co., Ltd. in successfully issuing 2025 Technology Innovation Bonds (Bond Connect) through the trading center's issuance system in the interbank market. The issuance size reached 6.5 billion yuan, with a 3-year maturity. The coupon rate is linked to the 1-year LPR minus 115 basis points, with an initial rate of 1.85%. The bonds carry a AAA/AAA credit rating from domestic and international agencies.
The bonds were issued via an online book-building process, with CITIC Securities acting as the lead underwriter and bookrunner. Industrial and Commercial Bank of China, Bank of China, CICC, CITIC Construction Investment, Guotai Junan Securities, and Ping An Securities served as joint lead underwriters. The issuance attracted strong investor demand, with an oversubscription rate of 2.5 times. Final investors included banks, securities firms, funds, and other institutional investors, demonstrating broad market recognition of Ping An Bank's brand strength, sound operations, and creditworthiness.
The online book-building process enhanced issuance efficiency and transparency. Proceeds will be allocated to technology innovation sectors as defined in the "Five Key Financial Themes" statistical framework, including technology loans and investments in bonds issued by tech innovation enterprises.
Moving forward, the trading center will continue to optimize its issuance systems and services, strengthen primary-secondary market coordination, and improve resource allocation efficiency to better serve the real economy.
Ping An Bank remains committed to its political and social responsibilities in finance, actively implementing regulatory requirements and enhancing its capacity to support the real economy. The bank focuses on five key financial areas: technology finance, green finance, inclusive finance, pension finance, and digital finance. It continues to strengthen financial support for consumer spending and manufacturing while maintaining robust risk management.
In 2025, Ping An Bank deepened its technology finance strategy to empower innovation-driven enterprises through multiple initiatives: 1) Expanding credit support with specialized scoring models and risk policies for high-tech firms; 2) Building a comprehensive lifecycle service system with tailored products like "Tech Innovation Loans" and "IPO Preparation Loans"; 3) Developing specialized tech finance teams; and 4) Fostering an ecosystem for deeper industry-finance integration.
As of September 2025, Ping An Bank served 28,859 technology enterprise clients (up 9.5% YoY), with outstanding tech loans reaching 297.529 billion yuan (up 6.6% YoY).
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