BEIJING, May 7 (Xinhua) -- Chinese authorities announced a series of supportive measures on Wednesday aimed at promoting the issuance of sci-tech innovation bonds.

Experts believe the move is set to bolster technology enterprises by facilitating their access to much-needed funding.

The announcement, jointly unveiled by the People's Bank of China (PBOC) and the China Securities Regulatory Commission, introduces initiatives to diversify the range of sci-tech bond products and strengthen supporting mechanisms.

To expand the scope of eligible issuers, commercial banks, securities firms, and financial asset investment companies will be allowed to issue these bonds, according to the announcement.

Other measures to be introduced focus on improving bond issuance management, streamlining information disclosures, and optimizing the credit rating system.

The push reflects China's broader efforts to strengthen support for sci-tech enterprises as it advances toward becoming a global technology powerhouse. In March, China announced that it would 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.

According to preliminary figures from the PBOC, nearly 100 market entities are preparing to issue more than 300 billion yuan (about 41.7 billion U.S. dollars) worth of sci-tech innovation bonds, with further participation expected in the future.