On October 17 2013, National Development and Reform Commission granted Daye Urban Construction Investment and Development Co., Ltd. the approval to issue corporate bonds capped at RMB1.6bn, including a 2013 issue of RMB1bn and RMB600mln in 2014. Wuhan-based senior partner Zhou Qunce and partner GuoHuilin provide legal counsel for the issuer.

The fund collected from the RMB1.6bnof seven-year-term bonds will finance an environment improvement and ecological conservation project backed by the central government.

Haitong Securities acted as lead underwriter for the first issue, while Dacheng provided comprehensive legal counsel for the issuer and offered legal opinions.