CCDC Shenzhen Branch Supported the First Local Issuance of ADBC Policy Financial Bonds

On June 21, approved by the People's Bank of China (PBC), the Agricultural Development Bank of China (ADBC) successfully concluded the tender issuance of 18.69 billion RMB financial bonds using PBC’s Bond Issuance System at CCDC Shenzhen Branch. This is the first issuance of policy bank financial bonds in Shenzhen, thanks to the extensive cooperation and co-innovation by CCDC and ADBC. This milestone issuance was witnessed by ADBC Vice-president Yin Jiuyong, General Manager of Fund Department of ADBC Liu Youhui and CCDC Vice-President Liu Fan.

This issuance was supported by CCDC Shenzhen Branch and was monitored by inspectors from PBC Shenzh Sub-branch. The fund raised by the bonds is to be used for summer crops purchase loans and shanty towns renewal loans, reflecting ADBC’s role in the coordinated development of urban and rural areas and in the implementation of the supply side structural reforms. The successful issuance of first ADBC financial bonds in Shenzhen will further promote the construction of multi-layer capital market and support the local financial market innovation and development.

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