On September 30, 2015, Qingdao City Construction Investment (Group) Co., Ltd. (abbreviated as “Qingdao Construction Investment” or “Company”), through its offshore subsidiary Hong Kong International (Qingdao) Co., Ltd., successfully issued US$500 million perpetual bond (abbreviated as “Project”). According to Reuters Hong Hong’s report on October 6, 2015, the Project is the first perpetual USD bond of China’s local government financing platform.

Jingtian & Gongcheng is the Company’s China legal counsel for the Project, assisting the Company to deal with legal issues in China. After helping the Company to issue unsecured USD bond in February this year, it’s the second time for Jingtian & Gongcheng to be involved in the Company’s financing project as China legal counsel.

As the largest financing and investment platform affiliated to Qingdao Municipal Government, Qingdao Construction Investment was founded in 2008. It enjoys the highest credit rating of 3A in the country, and has close to 100 billion yuan in assets. It has 15 subsidiary companies in areas such as tier-1 land development, Red Island New District construction, urban and city development, tourism investment and operation, municipal resource development, city and countryside financing, etc. Its main businesses include infrastructure construction, land development, construction of affordable housing and commercial housing, sewage treatment, tourism investment and operation, as well as city and countryside financial services. It has two major business lines of infrastructure construction in city and countryside, and tourism in Qingdao. It tries to control and consolidate quality resources through financing and investment.