(ATF) China Communications Construction (CCC) has won a public-private partnership (PPP) project bid to build Tianjin’s Metro Line 2 and Line 3. The project procurement budget is about 59 billion yuan ($8.3bn).
This is the first PPP project for subway stock in China and will be the first subway line operated by CCC in China, according to the website of state-owned Assets Supervision and Administration commission of the State Council.
CCC and Tianjin Municipal Government will set up a project company according to the equity ratio and signed a project contract, authorising the project company to be responsible for the investment, financing, operation and maintenance of the project during the cooperation period.
Everbright Bank announced on Tuesday that the China Banking Regulatory Commission had agreed to the transfer of 10.25 billion shares in the company held by Huijin.
China Minsheng Bank said Monday it has issued tier-two capital bonds valued at 50bn through the national interbank bond market and completed the registration and entrustment of the bonds with China Central Depository & Clearing.
The bonds were book-built and recorded on June 24 and the issuance was completed on June 29.
The 10-year securities have a fixed 3.75% yield and the issuer is entitled to conditionally redeem the bonds at the end of the fifth year. Proceeds from the sale will be used to replenish the tier-two capital of the company and improve its capital adequacy ratio.
Bank of China (BOC ) announced on Monday that its holding subsidiary BOC Fudeng Rural Bank has received approval from the Hebei Supervision Bureau of Bank of China Insurance Regulatory Commission to operate in the province.
The registered capital of BOC Fudeng is 1bn yuan, the bank will contribute 900 million yuan with a shareholding ratio of 90%.