On June 18 2012, the first batch of small- and medium-sized enterprise (SME) collective notes of Changsha, Hunan province, were successfully issued by Changsha Jindun Vehicle Rescue and Services Co., Ltd. and CHTC Jove Heavy Industry Co., Ltd., raising a total of RMB320mln. Hua Xia Bank acted as lead underwriter for the notes and China Great Wall Asset Management Corporation (“CGWAMC”) as guarantor. Changsha-based attorneys of Dacheng, including senior partner Mao Ying, attorney Mao Xiong and paralegal Kuang Shaojuan provided all-round legal service for the issuers.
On June 28, a dinner party was held in Sheraton Hotel, Changsha to celebrate the success. Present at the dinner were: Chen Zehun, deputy mayor of Changsha municipal government, Lu Xingying, deputy secretary-general of Changsha municipal government, Zhou Lianjun, deputy director of the bureau of finance of Changsha, Shi Zhaokui, deputy general manager of asset management department of CGWAMC, Zhu Hongwei, general manager of CGWAMC Changsha office, Xiao Liangmao, president and CPC party secretary of Hua Xia Bank Changsha branch. Attorneys Mao Ying, He Zhengcai and Kuang Shaojuan from the Changsha office were also invited to the dinner.
Xiaoxiang Morning Herald (“Xiaoxiang Chenbao” in Chinese pinyin) and Sanxiang City News (“Sanxiang dushi bao” in Chinese pinyin) reported on the first SME collective notes issue and its effect of broadening financing channels for SMEs.
Beijing Dacheng Law Offices, LLP ("大成") is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons' Preferred Law Firm in China, with offices in more than 50 locations throughout China. Dentons Group (a Swiss Verein) ("Dentons") is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.
