Six Chinese companies including Nanjing Innovation Investment Group, Shanghai Guosheng Group and Shougang Group issued seven technology innovation bonds worth a combined 8.6 billion yuan on Monday, as issuance in the sector continues to accelerate.

Wind data showed 760 technology innovation bonds had been issued as of May 24 this year, with total issuance reaching 801.3 billion yuan, far exceeding the same period last year.

Analysts attributed the surge to policy support, lower financing costs and a broader range of issuers entering the market.

China has increasingly promoted technology innovation bonds as a financing channel for strategic and hard-tech sectors, as policymakers seek to direct more capital toward industrial upgrading and technological self-reliance.