China Eximbank successfully issued a one-year financial bond through public bidding via Shanghai Clearing House (SHCH) on 10 December, with an amount of RMB 3.19 billion, a coupon rate of 2.66%, and a bid-to-cover ratio of 8.18. This bond, being widely purchased on the market, is the first policy financial bond issued by China Eximbank via SHCH, the first financial bond on the market to support the development of innovative industry in Lingang Special Area, and the first bond issued through flexible bidding with a bid-to-cover ratio?as the condition to trigger a larger issuance.

　　As an important issuer and a core builder of China's bond market, China Eximbank has long been active in promoting market development and innovation. In response to the plan of the People’s Bank of China to focus on fostering DR while improving China’s benchmark interest rate and market-based interest rate system, the Bank issued in the previous week the market’s first floating-rate note based on DR007 to support the application of DR and promote effective monetary policy transmission. The issuance at this time is another innovative action of the Bank, in terms of the place of issuance, bidding method, and the use of the funds raised. Up to now, the Bank has issued a total of RMB7.3 trillion of bonds in mainland China, with an outstanding balance of RMB3.4 trillion.

　　China Eximbank has been actively implementing the decisions and arrangements made by the CPC Central Committee and focusing on serving the national planning to support China’s foreign trade and cross-border investment, and promote the development of BRI and the building of an open economy, with rapid growth of business. The establishment of Lingang Special Area of China (Shanghai) Pilot Free Trade Zone is a major strategic deployment made by the CPC Central Committee to further open up to the outside world. This is an important measure in the new era to demonstrate China's commitment to advancing all-round opening-up and leading the sound development of economic globalization. The funds raised this time will all be used for the high-quality development of cutting-edge innovative industries in Lingang Special Area. Going forward, China Eximbank will continue to support the all-round and high-level opening-up of Lingang Special Area.