December 20, 2017 – Zhejiang Huzhou City Investment Development Group Limited (“Huzhou City Investment Development”) successfully issued $ 300 million bonds in Hong Kong with warm reception of final orders at more than 1.9 billion, nearly 7 times over-subscribed. The investing group consists of large fund companies, insurance companies, banks, private banks and hedge fund companies from Asia and Europe. The issuance is of extreme importance in assisting Huzhou City Investment Development with channeling overseas financing and in helping corporations to utilize international capital to fund the urban development of Huzhou city.

Established in May 2016 under the authorization of Huzhou Municipal People’s Government, formerly known as Huzhou City Municipal Construction Investment Group Ltd., is a conglomerate of businesses of water service, gas, development, ZTE, and asset operating management.

Being a limited liability company solely funded by the state in Huzhou, the company is wholly owned by the Huzhou State-owned Assets Supervision and Administration Commission.  With RMB 8 billion registered capital, more than 2000 employees and 9 first-tier subsidiaries, this large scale state-owned company primarily engages in the investment, engineering, construction, renovation, and settlement of urban infrastructure projects under government repurchase agreements.

Jingtian & Gongcheng team undertook the legal service throughout the entire issuance process as the issuer’s domestic attorney.