Capital Markets - Yuyao Economic Development Zone Construction, Investment and Development Co., Ltd.

Haitong Bank acted as a Placing Agent/Sole Bookrunner on Yuyao Economic Development Zone Construction, Investment and Development Co., Ltd.’s EUR 50m 4.6% private placement of guaranteed notes due on 5 September 2019. The Notes constitute direct, unconditional, unsubordinated and unsecured obligations of the Issuer and shall at all times rank pari passu and without any preference among themselves. The payment obligations of the Issuer under the Notes shall at all times rank at least equally with all its other present and future unsecured and unsubordinated obligations. The Guarantor has unconditionally and irrevocably guaranteed the due payment of all sums expressed to be payable by the Issuer under the Notes. Proceeds from the Bonds will be used for general corporate purposes.

The Issuer is wholly owned by the guarantor and has received strong financial, policy and other support from the Yuyao Municipal Government.