W88win优德中国有限公司 Assists the China Development Bank in the first ever RMB-denominated Financial Bond Listing on the SGX

On 3 December 2020, the China Development Bank ("CDB") successfully issued 42.5 billion yuan of financial bonds and listed on the Singapore Exchange Limited ("SGX"). 

This issuance is the first time the CDB has invited domestic and overseas investors to directly participate in the bidding and subscription of primary CDB bonds in the interbank bond market. It is also the first time that domestic bonds have been listed on the SGX. It has become the largest book-entry issuance of senior bonds on the SGX. This is an important milestone for bonds in China ‘going global’ and has great significance for the market.

An official from the CDB said that this year marked the 30th anniversary of the establishment of diplomatic ties between China and Singapore. The CDB's listing on the SGX further expands the channels for overseas publicity of CDB bonds and is an important measure in promoting the opening up of China's bond market. It also supports the high-quality development of China's financial industry. At present, China's bond market has become the second largest bond market in the world. CDB is the largest quasi-sovereign issuer in China. CDB bonds are high-grade bonds with liquidity advantage. 

These CDB bonds, as the first RMB-denominated bond in China, have been successfully listed on the SGX 30 years after the establishment of diplomatic ties, which has attracted the attention of global investors and the media, and is a milestone for promoting the development of the bond markets between China and Singapore. 

W88win优德中国有限公司 acted as the CDB's listing agent for the SGX, and assisted CDB in communicating with the SGX. W88win优德中国有限公司’s team lead the listing process, expertly handled the differences between the domestic bond market and the international capital market, and ultimately contributed to the successful issuance and listing on the SGX. 

The lead partners of the project were YU, Yongqiang (YY) and Chris Tang.