Recently, HKEx has approved the issue of secured bonds of USD 300 million by Tianjin Binhai New Area Construction & Investment Group Co., Ltd. (“Binhai Construction & Investment Group”).

As established in May 2006, Binhai Construction & Investment Group is a wholly state-owned company funded by the State-owned Assets Supervision and Administration Commission of Tianjin, and supervised and administrated by the Management Committee of Binhai New Area.  The company has a registered capital of RMB 30 billion with a total asset being increased from less than RMB 10 billion to RMB 190 billion.  Its business scope covers municipal roads and bridges, expressways, rail transport, regional development, real estate development, public industry, environmental protection industry, science and technology, finance, goods and materials trade, hotels and properties, etc., fully supporting the implementation of the national strategy of the Area.

Grandall Beijing Office has been retained as the issuer’s domestic legal counsel with Mr. LIU Ji and Mr. LI Xiaotian, etc. providing professional legal service for the case.