Mass innovation, entrepreneurship corporate bonds to be listed

China's first two mass innovation and entrepreneurship corporate bonds will be listed at Shanghai Stock Exchange soon, according to China's securities regulator on Friday.

InfoVision Optoelectronics Kunshan Co Ltd would issue a corporate bond with coupon rate of 3.88 percent, and Suzhou Derpin Medical Science and Technology Co Ltd would issue one with coupon rate of 8 percent.

The two companies would finance a total of 55 million yuan ($8.1 million) at the bourse and the funds will be used for technology innovation, product development and new market expansion.

"The mass innovation and entrepreneurship corporate bonds pilot is to implement national strategy of innovation development and encourage the public to have innovation and business start-ups," said Deng Ge, a spokesman of China Securities Regulatory Commission.

Deng said the commission will step up the pace of having mass innovation and entrepreneurship corporate bond pilot, expand the financing channel and lower the financing cost of innovative and start-up companies.