On October 15, 2014, “2014 Hangyuan No.1 Credit Asset-backed Securities” were successfully issued in the inter-bank bond market with approval from People’s Bank of China and China Banking Regulatory Commission. Hangzhou City Commercial Bank Co., Ltd. (a.k.a., Bank of Hangzhou) acts as initiator and Hwabao Trust Co., Ltd. as trustee. The RMB3.0139bn project is the first credit asset-backed securitization project wherein Bank of Hangzhou acts as initiator and credit service provider.
Beijing-based senior partners Liu Haiping and Liu Fei, partner Dong Wan and Kunming-based attorney Xin Yajie worked jointly for the project. Their service was unanimously recognized by Bank of Hangzhou and other participating institutions.
The team was assisted by attorneys Guo Wenmin, Han Tao, Li Xiang, Xiang Fayou and paralegals Chen Xiaorong and Yang Yani.
