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Dacheng Advises China Development Bank on Credit-Asset Backed Securitization

On July 16, RMB10,933,170,000 worth of credit-asset backed securities originated by China Development Bank (“CDB”) were successfully issued. The securities were approved by People’s Bank of China and China Banking Regulatory Commission and were issued by China Jingu International Trust Co., Ltd.. 

As of now, CDB has originated and issued 9 tranches of credit-asset backed securities, with an accumulative size of RMB65,700,000,000. The issuance in question, which is the fourth tranche of a series of such securities for 2014, marks the third RMB10bn plus-sized issuance for CDB. 

A Dacheng team led by senior partner Guo Qing provided comprehensive legal counsel for CDB. The team also included associates Liu Jinyi, Yin Yanhong, Sun Qiming and paralegals Wang Yunsong and Wen Bin. 

Mr. Guo is one of the first lawyers advising on credit-asset backed securitization in China. Since 2004 when Guo participated in CDB’s first pilot credit-asset backed securitization project, Guo has witnessed the release of relevant regulations and policies in China and has been advising the bank on subsequent securitization projects.