CCDC Shanghai Branch Successfully Supported the First Local Issuance of Policy Bank Financial Bonds
Financial market innovation and development is the top
priority of Shanghai international financial center construction. The Shanghai
"13th Five-Year Plan" clearly puts forward the strategic objective of
construction of global financial center and the key tasks including accelerating
the development of RMB-denominated financial products and deepening financial
market openness. With respect to the construction of RMB market center, it is
important to build the global RMB exchange rate formation center, asset pricing
center and payment & clearing center, as well as to steadily expand the
size of the bond market. In order to better serve this development strategy of
Shanghai international financial center, China Central Depository &
Clearing Co., Ltd. (CCDC) in recent years maintains its steady pace in product
and business innovation.
On June 14, Agricultural Development Bank of China (ADBC)
successfully issued 18 billion yuan of policy financial bonds at CCDC Shanghai Branch.
The fund raised by the bonds is to be used for summer crops purchase loans and shanty
towns renewal loans, reflecting ADBC’s role in the coordinated development of
urban and rural areas and in the implementation of the supply side structural
reforms. The successful issuance of the first policy financial bond by domestic
financial institutions in Shanghai not only demonstrates a new breakthrough the
city has made in this area, but also marks a major milestone innovation CCDC
Shanghai Branch has achieved. Following the local government bonds, corporate
bonds, commercial bank bonds and asset-backed securities, CCDC has introduced the
policy bank bonds issuance business to this city.