Shanghai Free Trade Zone Offshore Bonds Welcome Innovative Practices Again, Multiple Currency Issuances Expand Cross-Border Financing Space.

New progress has been made in the issuance of offshore bonds in the Shanghai Free Trade Zone. Recently, the overseas branches of China Construction Bank successfully completed two offshore bond transactions in the China Pilot Free Trade Zone. On March 11th, CCB Singapore Branch assisted overseas clients in issuing the first Renminbi-denominated Shanghai Free Trade Zone offshore bond, with an issuance size of 500 million RMB and a maturity of 364 days. Leveraging the secondary custodian qualification of the Shanghai Clearing House, CCB Singapore Branch provided comprehensive services including custody, underwriting, and investment in this transaction, integrating the cross-border financing process. On March 5th, the Shanghai Clearing House disclosed information that CCB New Zealand issued the world's first Hong Kong-dollar-denominated Shanghai Free Trade Zone offshore bond, with an issuance size of 100 million HKD, a coupon rate of 2.5%, and a maturity of one year. This bond is registered and custodied in the Shanghai Clearing House and primarily targets overseas investors.