Translator：Wang Yichun

On May 30, 2023, Landing Law Offices, acting as domestic legal counsel, facilitated the Jingjiang Port Group Co., Ltd. ("Jingjiang Port Group") in their triumphant issuance of RMB 287 million worth of Free Trade Zone Offshore Bonds on the Macau Stock Exchange. These bonds, with a term of 2.5 years and a 3.8% coupon rate, were issued in accordance with Reg S regulations and categorized as fixed-rate senior bonds. The backing SBLC for this initiative was provided by the Postal Savings Bank of China Co., Ltd., Taizhou Branch.

Established in 2007, Jingjiang Port Group boasts a registered capital of RMB 120 million. Jointly financed by the State-owned Assets Supervision and Administration Office of Jinjiang People’s Goverment and the Jingjiang Economic and Technological Development Zone Committee, the group stands as the primary state-owned entity overseeing the construction and operations within the Jingjiang Port. Historically, it has shouldered the responsibilities related to the port's construction, management, and infrastructural undertakings. As they move into the future, the Group is setting its sights on a dual strategy encompassing tangible development and platform-based services, while harnessing their primary duties, expertise, and resources. Their vision encompasses the crafting of three pivotal sectors: port economy, resource economy, and platform economy. Their ambition is to establish an expansive port ecosystem, continuously amplifying their asset portfolio and operational prowess. They're focused on diversifying their financial strategies, expanding their financing channels, and driving multi-faceted growth, all while bolstering their core competitive edge.

Landing's esteemed senior partners, Tang Xiang and Zhang Min, spearheaded the legal counsel for this endeavor. Their comprehensive suite of services encompassed an in-depth due diligence process for the issuer's domestic subsidiaries, insightful legal counsel based on Chinese regulations regarding the proposed bond issuance, meticulous scrutiny of the terms and legal documentation, and expert advice concerning the required permits and approvals for the issuance. The culmination of their efforts was the provision of a robust legal opinion in accordance with Chinese law.