At 11:00 a.m.on November 3rd, in the trading hall of Shanghai Stock Exchange, Head of WufengTujia Autonomous County WanHong, Chairman of the Board of YichangChangle Investment Group Co., Ltd. Zhu Jian, Chairman of the Board of Orient Securities Co., Ltd. Pan Xinjun, and Chairman of the Board of Wuhan Rural Commercial Bank XuXiaojian beat gong together, marking the list of the first special poverty alleviation bonds issued by Wufeng.
The authorized current bondstotal500 million yuanwith the first issuance standingat300 million yuan. Maturity of the bondsis seven years. The Citi Orient Securities Company Limited is the sole book runner. The bonding company is the Wuhan Dongchuang Investment and Guarantee Co., Ltd.. Wuhan Rural Commercial Bank will subscribe these bonds fully.
From perspectives of “relocation of the poor, poverty alleviation based on developing industries and green development”, the raised funds will target12 key poverty-stricken villages and over 36 thousand poor people in Wufeng. Meanwhile, it will lead social capital to actively invest and participate inWufeng’sexisting characteristic advantage industries like tea, vegetables, Rhuschinensis Mill, Apiscerana, traditional Chinese medicine and rural tourism, etc. so as to lead the poor to shake offpovertyand become prosperous.
"The successful issuance of the first special poverty alleviation bondsin the country has explored a new path for financial poverty alleviation, which will effectively speed up poverty alleviation in poor regions." Chen Fei,Deputy Director of the Corporate Bond Regulatory Department of China Securities Regulatory Commission, told reporters that by grasping this opportunity, we should continue to amplify the demonstration effect of this financial productand push securities agencies to participate in and help the cause of poverty alleviation.
"The issuance of the special poverty alleviation bondsis a successful exploration of social capital in joining hands with the national strategies and promoting the implementation of financial poverty alleviation policies." Wan Hong, the Head of WufengTujia Autonomous County, said that Wufeng is in a contiguous poverty-stricken area in WulingMountainand is one of the most poverty-stricken counties where economic and social development is relatively backwardand the task of getting rid of poverty is arduous. The successful issuance of the bondsprovided financial guarantee for targeted poverty alleviation in this county. The special funds should be well made use of to generate profits. (Reporter TianYunbing, correspondent Song Yong, Wang Dengfu)