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On December 28th, the project of Private Placement Housing Leasing Special Corporate Bond of Guangdong Hailunbao Real Estate Group Co., Ltd. declared by China Merchants Securities to the Shenzhen Stock Exchange (hereinafter referred as SZSE) has been approved, opening up a new financing channel for the development of the long-term housing rental market.
Guangdong Hailunbao Real Estate Group Co., Ltd. was selected as "Top 100 Real Estate Development Enterprises in China in 2017" by China Real Estate Association and China Real Estate Evaluation Center in 2017. The 550 million Yuan raised from the bond will be earmarked for investment in the construction of three long-term rental housing projects. Among them, "Shanghai Xinying Business Center 16 # Building" is a proprietary long-term rental apartment developed by Hailunbao with a planned building area of about 25,000 square meters and is expected to meet the demand for office and residential integration of about 800 surrounding employees, while "Zhongshan Huaxin Start-up Industrial Park Chuangke Apartment" and "Guangzhou Hailunbao Creativity Park Talent Apartment" being the ancillary service facilities for long-term rental apartment. The two projects, constructed in accordance with “the Opinions on Supporting the development of new industries and Boosting the Innovative Land Used for Public Start-ups” issued by the Ministry of Land and Resources and other six ministries in 2015, will provide rental housing services for middle and high-end talents in the park, and are estimated to meet the living demand for 2700 talents. The issuer of the bond promised to hold the property of above projects for at least 10 years.
Following the approval of the first long-term rental apartment pledge loan asset securitization product--“China Merchants Securities Chuangrong- China Merchants Shekou Long-term Rental Apartment Asset-backed Special Plan” by SZSE, and the successful release of the first long-term rental apartment REIT--“New Apartment Rights Trust Asset-backed Special Plan” in SZSE, the approval by SZSE on the issuance of the special corporate bond, whose raised funds used in the construction of long-term rental apartment, substantially demonstrates the firm determination of SZSE in promoting the construction of rental housing in China and nurturing and developing the housing rental market. It is an act of exploration of the SZSE in enriching the variety of bond markets and serving the development of real economy.
Next, the SZSE will continue to take Xi Jinping's socialism with Chinese characteristics in the new era as guidance, conscientiously implement the requirements of the Central Economic Work Conference, under the unified arrangements of the China Securities Regulatory Commission, continue to increase business innovation and product development, further explore the new ways of exchange bonds Market in supporting and serving the rental market. SZSE will further improve the long-term mechanism of promoting the steady and healthy development of the housing rental market and contribute to the development and growth of the housing rental market in China.
