Wuxi High-Tech Zone Issues RMB 600 Million Token Computing Factory Bond at 2.03%, a Jiangsu Low

The first national sci-tech innovation corporate bond specifically for token computing factory construction was recently listed on the Shanghai Stock Exchange. Wuxi High-Tech Zone Sci-Tech Industry Development Group Co. , Ltd. issued in July the '2026 Non-Public Offering of Sci-Tech Innovation Corporate Bonds to Professional Investors' under the short name '26 Kechan K1', with a scale of RMB 600 million and a tenor of five years. Backed by its AA+ issuer credit rating and the AI computing power asset nature, the bond achieved a final coupon rate of 2.03%, with an overall subscription multiple of 3.1 times. The proceeds will be primarily directed to the Token factory project of Wuxi Suihong Huachuang Technology Co. , opening a direct financing channel between the capital market and AI underlying computing power infrastructure.

As the artificial intelligence industry accelerates its iteration, the large-scale deployment of AI agents continues to drive growth in Token demand. Token computing factories, as core infrastructure of the AI industry, have become an important vehicle supporting the development of the digital economy and intelligent computing power industry. The issuance of this bond sets a precedent for capital market financing specifically empowering the AI computing power Token niche.

Since the 'Sci-Tech Board' policy for the bond market took effect in May 2025, cumulative issuance of sci-tech innovation bonds has reached approximately RMB 3.02 trillion, involving about 1,100 issuers. In 2026, the sci-tech bond market has accelerated expansion, with year-to-date issuance exceeding RMB 1.1 trillion, of which the share of tech-enterprise issuers exceeds 90% and the share of private-enterprise issuers exceeds 10%.

In 2026, several 'first-of-its-kind' deals have emerged in the sci-tech bond financing space. Junpu Intelligent's '26 Junpu Intelligent MTN001 (Sci-Tech Bond)' will use all proceeds for AI and humanoid robot core technology R&D, intelligent manufacturing equipment upgrades, and repayment of maturing existing debt, marking the first national sci-tech bond for AI and humanoid robot R&D. In July, Hongshida and Junchuang Technology issued the first batch of private-enterprise private placement sci-tech bonds on the Beijing Stock Exchange. Additionally, in the semiconductor industry, Tongfu Microelectronics, GalaxyCore, and Chipone each achieved their first sci-tech bond issuance in 2026.