On June 9th, 650 million Yuan corporation bonds raised and issued by Yichang Transportation Investment Co. LTD was listed on the SSE (Shanghai Stock Exchange) as 17 Yichang Transportation 01, with the code of 143096.SH, 5-year issuing period and the coupon rate of 5.5 percent. Yichang Transportation Investment Co. LTD became the first municipal state-owned non-listed company which had listed its bonds on SSE, with the lowest investment cost under the unfavorable market situation of tightening financial policy and rising financing cost.

　　As a wholly owned subsidiary of Yichang Urban Construction Investment Holding Group, Yichang Transportation Investment Co. LTD was not only an important force to promote the implementation of Three Gorges Comprehensive Transportation System and other national strategies, but also a necessary platform for the development of the Three Gorge Hub Port, Three Gorge Airport Economic Zone and the transportation infrastructure in Yichang. The bonds issued in the capital market was aimed at offering financial guarantee for the construction of transportation infrastructure, the development of logistics industry in the Three Gorges area, and the formation of modern Three Gorges Logistics Industry which could offer four-in-one "port logistics, bonded logistics, aviation logistics, and intelligent logistics", realize the opening to the outside world, and develop inner regional cooperation.

　　It is said that this successful listing of Yichang Transportation Investment Co. LTD is owe to its governance system, main business, asset structure, debt-paying ability and development prospects, laying a solid foundation for Yichang Urban Construction Investment Holding Group to bring "Three Gorges Logistics Business” sector into the capital market.

　　For Yichang Transportation Investment Co. LTD, the next step is to actively promote the shareholding system transformation and IPO issuing preparation, and strive to achieve the goal of "Three Gorges logistics" IPO issuing and listing.

　　Corporate bonds are the negotiable securities which will is expected to be approved by the China Securities Regulatory Commission (CSRC) after strict audit. Since 2015, CSRC have agreed that non-listed company passing the audit can carry out direct financing in the capital market. For issuers, they must have good debt-repaying ability and higher credit ratings if they want to issue corporate bonds to investors publicly. (Reporter: Lei Pengcheng, correspondent: Wu Yan)