The 2019 non-publicly issued corporate bond of Hebei Transportation Investment Group Corporation has been approved to be listed on the Shanghai Stock Exchange (SSE) lately. The corporate bond raises RMB5 billion, among which RMB1.5 billion will be used for the construction of two highways in Xiong’an New Area, the New Line of Rongwu Highway and the New Airport - Dezhou Highway. It becomes the first corporate bond on the exchange-traded market that serves the construction of Xiong’an New Area. The above-mentioned two highways, the key projects of the backbone traffic network of Xiong’an New Area, have been included in Xiong’an “4 vertical lines and 3 horizontal lines” regional highway network in the “Planning Outline for Xiong’an New Area, Hebei Province” approved by the Party Central Committee and the State Council. The issuer’s rate is AAA, and the lead underwriters are Guotai Junan Securities Co., Ltd., CITIC Securities Co., Ltd. and Haitong Securities Co., Ltd.
Planning and building Xiong’an New Area is the key national strategy determined by the Party Central Committee with Xi Jinping as its core and a state project of vital and lasting importance. The construction of Xiong’an New Area is at the preliminary stage, and it is to enter into the full development and construction period that requires large amounts of capital. The Party Central Committee has clearly proposed to strengthen the efforts on offering direct financing support for Xiong’an New Area and establish a long-term and stable construction fund raising mechanism.
To earnestly implement the strategic arrangement for Xiong’an New Area made by the Party Central Committee and the State Council, according to the arrangement of the China Securities Regulatory Commission (CSRC), the SSE has greatly advanced the direct financing service for Xiong’an New Area and immediately organized a special team to carry out working contacts in Xiong’an to offer whole-process service for its financing. In December 2018, the 1st batch of RMB30 billion Xiong’an New Area Construction Bond was listed on the SSE, which was highly acknowledged by the CPC Hebei Provincial Committee, the Hebei Provincial Government and Xiong’an New Area. The approval of the corporate bond for Xiong’an New Area’s construction issued by Hebei Transportation Investment Group Corporation has opened a direct financing channel in the exchange-traded market for Xiong’an’s construction, gained useful experience for the capital market to serve its construction, and displayed a good demonstration effect.
Next, the SSE will continue to study and implement the requirements of the 19th CPC National Congress according to the arrangement of the CSRC. Besides, according to the staged construction objects and demands of Xiong’an, it will, synchronized with the reform, innovation and opening-up of the SSE capital market, stand at a higher stance, blaze a trail, continuously boost the financial innovation research for Xiong’an New Area and serve the construction and development of Xiong’an in multiple aspects.
