China will launch a "sci-tech board" in its bond market to promote the issuance of sci-tech innovation bonds by financial institutions, tech firms and private equity investment institutions, the country's central bank governor said Thursday.

The "sci-tech board" aims to guide bond funds toward sci-tech innovation more effectively and at a lower cost, Pan Gongsheng, governor of the People's Bank of China, told a press conference on the sidelines of the third session of the 14th National People's Congress.

China will also optimize re-lending policies for sci-tech innovation and technological transformation this year, Pan said.

The country will further expand the scale of such re-lending from the current 500 billion yuan (about 70 billion U.S. dollars) to up to 1 trillion yuan to better meet the financing needs of enterprises, Pan said.

He added that efforts will be made to maintain the intensity of fiscal interest subsidies and effectively reduce corporate financing costs.

Pan also said China will develop new structural monetary policy tools, with a focus on supporting investment and financing in the sci-tech innovation sector.

Wu Qing, chairman of the China Securities Regulatory Commission, said at the press conference that the commission will facilitate the improvement of supporting mechanisms dedicated to sci-tech enterprises, and will more precisely support the listing of high-quality technology companies.

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