Fitch Ratings: Awarded Shaoxing City Development a "BBB+" credit rating for its planned bond issuance.

On June 23, Fitch Ratings has granted a "BBB+" rating with stable outlook to Shaoxing City Development Group Co., Ltd. ("Shaoxing Chengfa") for its planned issuance of senior unsecured bonds. The proposed bond issuance will be directly issued by Shaoxing Chengfa.