On 28 April 2021, National Association of Financial Market Institutional Investors (NAFMII) sent the Notice of Acceptance of Registration to Tianjin Infrastructure Investment Group with respect to the registration of debts financing instruments, whereby the Group may issue ultra-short-term financing bonds, short-term financing bonds, medium-term notes, perpetual notes, asset-backed notes and green debt financing instruments as well as other related instruments. 

Tianjin Infrastructure Investment Group, as a large wholly state-owned enterprise, was established in 2004 with the direct approval of Tianjin Municipal Government, specializing in financing, investment, construction and operation of major urban infrastructure, raising funds for urban construction through cultivating listed companies, issuing corporate bonds and attracting strategic investors, etc., and using the concession granted by the government to operate urban construction assets. As of the end of September 2020, the Group had a total consolidated assets of RMB 857.4 billion, net assets of RMB 285 billion, operating income of RMB 10.329 billion and net profit of RMB 744 million, ranking the first among large state-owned non-financial enterprises in Tianjin in terms of comprehensive strengthen.

LIANG Shuang (managing partner and director of Grandall Tianjin), ZHANG Yu, and LI Zilong of Grandall Tianjin Office provided professional legal service for the project.