On August 5, 2019, Chongqing Nanchuan District Urban Construction Investment Holding (Group) Co., Ltd. issued the 2019 green non-public project bonds worth RMB1.08 billion, with the term of seven years and the interest rate of 7.80%. This was the first issuance of non-public green bonds for sponge city construction in China.

Nanchuan District Urban Construction Investment Holding (Group) was incorporated in October 2003, formerly known as a principal-division-level public institution fully funded by the government finance. It was restructured into a state-owned enterprise in 2009, and transformed into a group company in 2018 with 11 holding subsidiaries and 4 share-holding subsidiaries by integrating its advantageous resources in Nanchuan District. Its registered capital is one billion yuan, and its total assets are about RMB 21 billion.

Its business scope covers urban infrastructure, water conservancy engineering construction, land consolidation and reserve, education, public health, water supply, health-preservation real estate (services) and public housing management and other fields. It also acts as an Engineering, Procurement and Construction (EPC) contractor for construction projects. In recent years, it has successfully implemented more than 60 infrastructure projects such as "Five Centers and One Square," Yunan Avenue, a new campus of Longhua No.1 Primary School, Jiudingshan Park, Fengzui River course improvement, etc., playing a leading role in building Nanchuan into "a strong industrial area, a famous tourist destination, and an ecological garden" and making it more competitive, beautiful and prosperous.

The lead underwriter of this issuance was TF Securities and the joint lead underwriter Southwest Securities. As the project legal counsel, the DeHeng team, headed by partner Wang Jian and lawyer Li Yangde, with primary support from lawyers Zhang Rang and Liao Mengying and legal assistant Xu Jiamin, provided qualified and efficient legal services for the whole process.