China's First Green Railway Bond Issued on SSE, Raising RMB 10 Billion

On May 20, China State Railway Group Co., Ltd. (hereinafter referred to as "China Railway") successfully completed the competitive bidding issuance of the first tranche of the 2026 China Railway Construction Bond (Green Bond) on the Shanghai Stock Exchange (hereinafter referred to as the "SSE"), with a total issuance size of RMB 10 billion.

It is reported that, as the first China Railway Construction Bond (Green Bond) in the entire market, this issuance represents another new breakthrough for China Railway in further advancing the market-oriented reform of bond issuance. China Development Bank Securities acted as the lead underwriter for this bond. The total green bond issuance size reached RMB 10 billion, comprising a 10-year tranche of RMB 5 billion and a 30-year tranche of RMB 5 billion, with coupon rates of 1.83% and 2.43%, respectively. The bonds were 3.58 times subscribed, attracting strong demand from mainstream market investors including banks, insurers and fund companies. (By Tian Zhongfang, The Paper)