30 Billion Yuan Energy Guarantee Bond Issued

We implemented the decision and arrangement made at the Executive meeting of The State Council to support central power generation enterprises to issue 200 billion yuan of special bonds for energy supply. Sasac, together with the People's Bank of China and the Dealers Association, promptly guided relevant central enterprises to seize the current window of abundant market liquidity and push forward the issuance of special bonds as soon as possible. On September 5, China Guoxin, a state-owned capital operation company, took the lead in successfully issuing the first 30 billion yuan 5-year special energy guarantee bond with a coupon rate of 2.65%, lower than the average interest rate of similar bonds with the same maturity. All the funds raised will be used to inject capital into central power generation enterprises to support them in comprehensively improving their comprehensive supply guarantee capacity.

Supporting central enterprises in issuing special bonds for energy supply protection is a concrete action to implement the decisions and arrangements of the CPC Central Committee and The State Council on safeguarding national energy security, and an innovative measure to effectively leverage the functions and roles of state-owned capital operation companies. In the next step, SASAC will supervise and guide the central power generation enterprises to make full use of the state support policies, further enhance the supply guarantee capacity, accelerate the transformation and development, do a solid job in energy and power supply this winter and next spring, and make due contributions to the stability of the economic market.