Market Makers

Industrial and Commercial Bank of China Ltd.

Agricultural Bank of China Ltd.

Agricultural Bank of China (ABC) is one of the leading bond dealers, market makers and underwriters, as well as one of the few agent banks providing FX derivatives trading services for foreign investors.

In the primary market, ABC owns outstanding underwriting ability and market impact, which is also reflected by ranking first in underwriting volume of rates, and monthly NCD issuance volume amounted to RMB 4 billion leading the state owned banks.

In the secondary market, ABC carries out various types of trades with over 200 counterparties around China every day. Our SHIBOR and X-repo trade volume ranks first, while the bond trading volume in interbank and exchange ranks first among all the state-owned banks respectively over the years.

ABC trades with foreign investors including international financial orgnizations, sovereign wealth funds and AMCs, and ranks first in terms of number of Bond Connect counterparties.We provide foreign investors with the most competive bond and FX quotes, as well as billingual macro economy insights and investment advice. Owing to our execllent services, ABC won awards including Outstanding Contribution to the Opening-up of China's Financial Market, Outstanding CIBM Agent and Best Bond Connect Participating Dealer over the years.

http://www.abchina.com/en/

Bank of China Ltd.

Bank of China, founded in 1912 with more than 100 year history, is the most internationalized bank in China. The Bank provides its clients across the Chinese mainland and more than 50 countries and regions with a comprehensive range of financial services, among which the RMB internationalization business is a key focus. The Bank has been devoted to promote the opening up of onshore financial markets and facilitate overseas investors with their investments, since the very beginning of the CIBM opening up in 2010.

In the Bond Connect program, Bank of China was appointed as a designated onshore dealer and provided market making for Bond Connect investors. A trading desk was set up with 10 experienced traders to cover Rates, Credits, NCDs, potentially derivatives and other to-be-approved products. The Bank's market making volume has long maintained a leading position among all onshore dealers, indicating its strong trading capacity and quotation competitiveness.

http://www.boc.cn/en/index.html

China Construction Bank Corp.

China Construction Bank (CCB) is a large-scale joint stock commercial bank leading in China. At the end of 2018, CCB’s market capitalization reached US $207179 million, ranking fifth among all listed banks in the world and 2nd in China.

As a leading market maker in China Interbank Bond Market (CIBM), CCB provides competitive bid-ask prices for more than 100 bonds every day. The quotation covers all kinds of bonds and all the key terms. From 2009 till recently, CCB has awarded the "best market maker" of CIBM.

Also as a Bond Connect dealer, CCB participated from the first day of trading on July 3 2017. In 2018, CCB was awarded the "Outstanding opening-up Contributions" by CFETS. In 2019, CCB was awarded the "Bond Connect Top Dealers" by Bond Connect Company Limited (BCCL). By offering excellent quotations and tailored services to Bond Connect customers, CCB has accomplished bond trades with a number of overseas asset management companies, securities companies, commercial banks, and other institutional investors. The types of bonds covered government bonds, policy banks bonds, NCD, and medium-term notes, etc.

In recent years, CIBM has deepened its opening-up process to overseas investors. China Construction Bank is willing to provide better services to international clients and to satisfy the demands of investing in the PRC bond Market.

 http://www.ccb.com/en/home/indexv3.html

Bank of Communications Co., Ltd.

Founded in 1908, BoCom is one of the big five banks with the longest history in modern China. BoCom was ranked No. 11 among the global top 1,000 banks by The Banker, with 20 overseas banking entities in over 16 countries and regions.

BoCom is one of the major players and market dealers in China Interbank Bond Market. As to the end of 2017, the CNY bond holding of BoCom reached 1.95 trillion. During 2017, the transaction volume of CNY bonds, CNY money markets and CNY IRS reached 2.57 trillion, 17.8 trillion and 439.9 billion respectively. We are capable of handling large scaled trading in all the major products in CIBM.

BoCom is one of the earliest Bond Connect dealers and Hong Kong SAR Settlement Banks. BoCom Trust is one of the global custodians in Hong Kong.

On 3 July 2017, the launching day of Bond Connect, BoCom had done the first deal in the whole market through Bond Connect, showing our strength in Bond Connect dealing. Throughout the first year of Bond Connect, we have build up relationship with more than 100 counterparties, have accomplished tens of billions trading volume.

BoCom dedicates on building connections with oversea financial institutions. We provide prompt and most competitive bond quotes, as well as professional research reports delivering market information and investment strategy.

 http://www.bankcomm.com/BankCommSite/shtml/zonghang/en/3153/list.shtml

China Development Bank

The China Development Bank (CDB or the Bank), established in 1994, is a state-funded and state-owned development finance institution operating as an independent legal entity under the direct leadership of the State Council. The Bank is dedicated to supporting China's economic development in key industries and underdeveloped sectors. The bank receives ratings from Standard & Poor's and Moody's, which have always been consistent with China's sovereign rating. Drawing on its sovereign credit status, CDB continues enhancing its fund raising and management systems and adopting innovative funding channels, business and products. In 2017, CDB was the first to offer its Bond Connect bonds in the interbank bond market and opened new channels for RMB funding in domestic and overseas markets.

CDB's leading role in the bond trading field has been successfully maintained and awarded the honorary titles of Excellent Trader and Active Trader by CFETS multiple times. The bank has always been actively involved in and promoted the innovation of interbank trading. As the first batch of Bond Connect quotation dealer, CDB will continue to actively fulfill market maker's responsibilities and obligations and provide premium and efficient service for global market institutions.

http://www.cdb.com.cn/English/

China CITIC Bank Corp., Ltd.

China CITIC Bank (CNCB) founded in 1987, is one of the earliest commercial banks established during China's reform and opening. In 2007, CNCB listed its A + H shares on both Shanghai and Hong Kong Stock Exchanges simultaneously.

2017 was the 30th anniversary for CNCB which registered more than 5 trillion RMB total assets and nearly 60,000 employees through growth and expansion. In 2017, "The Banker" (the United Kingdom magazine) rated CNCB as the 22nd of the "Top 500 Global Bank Brands", CNCB was also selected as the exclusive bank winner of the "2017 Bank of the Year in China" in Mainland China.

CNCB has been performing excellently in Chinese interbank bond market, offering products and tools for clients about investment, assets management and risks management. Qualified with Shibor quotation bank, primary dealer of open market, underwriter of government bond, policy bank bond and credit bond, CNCB strives to be one of the core market makers capable of providing diversified investment targets and good quotations, as well as efficient settlement for investors. With the innovation and development, CNCB consolidates its position in financial market with numerous awards and titles such as "Excellent bank for bond trading", and "Excellent bank for interest rate derivatives trading" etc.

http://www.citicbank.com

Shanghai Pudong Development Bank

Shanghai Pudong Development Bank Co., Ltd. (SPD Bank) was founded on August 28, 1992 with the approval of the People's Bank of China and has been operating since January 9, 1993. It is a nationwide joint-stock commercial bank that became listed in 1999 on the Shanghai Stock Exchange (Stock Code: 600000).

SPD Bank operates a network of 41 branches and approximately 1,800 banking outlets inside and outside China, and the number of employees exceeds 52,000. In recent years, the Bank has been continuously expediting globalization as seen by the establishment of Hong Kong Branch, Singapore Branch, London Branch and SPDB International Holdings Ltd.

As a primary designated market maker, we have been franchised in the underwriting business for treasury securities, policy bank bonds and all other credit bonds. We have more than 10 years of experience in offshore foreign bonds market, and are able to provide full service throughout trading, clearing, custodian process. Our relationships with more than 20 central banks around the globe and 150 billion Yuan trading volume have made us the winner of "extraordinary contributor of capital market opening-up" award by CFETS in 2017.

http://eng.spdb.com.cn/

China Merchants Bank Co., Ltd.

Established in 1987 in Shenzhen, the forefront of China's reform and opening-up drive, China Merchants Bank ("CMB") is China's first joint-stock commercial bank.

In the past 30 years, by adhering to the service concept of "We are here just for you", CMB has grown into one of the most influential commercial banks in China. According to The Banker, CMB ranked the 13th in terms of brand value for 2016; CMB ranked No. 189 on the Fortune Global 500 list in 2016; According to the "Gyroscope" evaluation system of China Banking Association, CMB has ranked the 1st in overall development strength among commercial banks in China.

As of the first half of 2017, with over 70,000 employees, CMB has over 1,800 branches, including 5 overseas branches and 3 overseas rep-offices. CMB has established overseas branches in Hong Kong, New York, Singapore, Luxembourg, Sydney and London, and representative offices in New York, London and Taipei.

In the future, CMB will position itself as a "Fintech bank". We will strive to become the best commercial bank in China with innovation-driven development, leading retail banking business and distinguished features by accelerating the digitalization process and taking a lead in both mindset and capabilities.

http://english.cmbchina.com/

Industrial Bank Co., Ltd.

Founded in August 1988, Industrial Bank (IB) is one of the first batch of joint-stock commercial banks approved by the State Council and the People's Bank of China, and the first Equator Bank in China. On February 5, 2007, IB was listed on Shanghai Stock Exchange (Stock Code: 601166).

Over 20 years, IB has been advocating the philosophy of "Sincere Service, Growing Together" and endeavored to offer comprehensive, top-quality, and high-efficient financial service for customers. By Dec 31 2017, the total assets of IB reached RMB 6.416 trillion, operating incomes hit RMB 139.975 billion, the net profits attributable to the parent company across the year amounted to RMB 57.200 billion.

According to the 2017 list of "Top 1000 World Banks" released by the British magazine, The Banker, IB ranked to the 28th place in terms of Tier 1 capital; according to the 2017 Fortune Global 500 companies, IB ranked 230th, staying stably among Global Top 50 Banks, Global Top 100 of listed companies and Global 500 companies.

At present, the Company has formed a relatively complete business system covering interbank business, capital trading, assets management and assets custody, and has taken the lead in planning its business in the monetary market, capital market, bond market, inter-bank market, non-bank financial institution market, precious metals, foreign exchange and derivative products trading.

https://www.cib.com.cn/en/

China Minsheng Bank Corp., Ltd.

China Minsheng Banking Corporation Limited (China Minsheng Bank, CMBC, or the Company) was formally established in Beijing on 12 January 1996. It is China's first national joint-stock commercial bank initiated and founded mainly by non-state-owned enterprises.

Over the past 21 years since establishment, along with the rapid growth of China's economy and the support from customers and various circles of the society, China Minsheng bank has grown into a large-scale commercial bank with over RMB370 billion net tier-one capital, RMB5.7 trillion total assets, nearly 3,000 branches, sub-branches and outlets and around 57 thousand employees. In the Top 1000 World Banks ranking released by The Banker in July 2017, China Minsheng Bank was ranked No.29. In the Global 500 list published by Fortune in July 2017, China Minsheng Bank stood at No. 251.

On 19 December 2000, China Minsheng Bank was listed on the Shanghai Stock Exchange (A share code: 600016). On 26 November 2009, the Company was listed on the Hong Kong Stock Exchange (H share code: 01988). At the end of 2017, the Company realized net profit attributable to equity shareholders of the Company of RMB49,813 million.

http://en.cmbc.com.cn/index.htm

China Guangfa Bank Co., Ltd.

Established in 1988, China Guangfa Bank is one of the earliest-incorporated joint-stock commercial banks in China. In light of the vision to be a first-class commercial bank, the Bank strives to be the best retail bank in China, and has cultivated a core operation philosophy focusing on innovation, efficiency, customer-orientation, IT leadership and employee welfare.

The Bank stepped up transformation of financial market business. Based on the characteristics of financial market and financial institution business, it gradually established a coordinated financial market operation model covering limit management of financial institutions, financial market trading, financial institution business platform and risk management among financial institutions.

The Bank continued to carry out RMB bonds market-making and proprietary trading in order to constantly expand its market-making ability and market influence. As a result, the Bank further consolidated its status as a primary dealer in open market, a member of the SHIBOR quotation team, IRS fixing curves quotation team, RMB bonds market-maker, a lead underwriting group for government and financial bonds.

http://www.cgbchina.com.cn/Site/Home/EN

China Zheshang Bank Co., Ltd.

China Zheshang Bank Co., Ltd. (hereinafter referred to as "CZBank") is one of the 12 national joint-stock commercial banks approved by the China Banking and Insurance Regulatory Commission. CZBank officially commenced operations on August 18, 2004 and was listed on the Hong Kong Stock Exchange on March 30, 2016(Stock Code: 2016). As of December 31, 2017, CZBank has established 213 branch outlets. On December 19, 2017, CZBank was awarded the banking license by Hong Kong Monetary Authority and became a licensed bank of Hong Kong.

Since the commencement of operations, CZBank has been pursuing steady development based in Zhejiang according to General Secretary Xi Jinping's requirements proposed at the beginning of our incorporation. CZBank has become a bank with a solid foundation, strong profitability, rapid growth and prudent risk control. As of December 31, 2017, our total assets amounted to RMB1.54trillion, the balance of customer deposits was RMB860.6 billion, and the total loans and advances to customers was RMB672.9 billion, representing an increase of 13.43%, 16.89% and 46.44% on a year-on-the-year basis. CZBank ranked 131st in terms of tier-one capital and 109th in terms of total assets among the "Top 1000 World Banks 2017" released by The Banker. China Chengxin International Credit Rating Co., Ltd. Granted CZBank the highest AAA corporate credit rating in rating of financial institutions.

http://www.czbank.com/en/investor_relations/

Bank of Shanghai Co., Ltd.

As one of the first batch of China Interbank Bond Market members, Bank of Shanghai has got full range of qualifications in the past 20 years, including agent bank of bond settlement, underwriter of Certificate Treasury Bonds, market maker of Interbank Bond Market, market maker of Shibor market, primary dealer of open market, market maker of interest rate swap market and core dealer of Credit Risk Mitigation Instruments.

As core market maker of China Interbank Bond Market, Bank of Shanghai provides the market with highly-qualified and efficient quotation service. We rank the first in terms of secondary market trading volume in the past 2 years, as we quote over 100 treasury bonds and policy finance bonds every day. With the good performance record in market making, we were awarded "Excellent comprehensive market maker of the year", "Special award on market making of treasury bonds" for consecutive years.

As market maker of the Bond Connect market since Jul 2017, Bank of Shanghai is highly specialized in this area. Our objective is to provide overseas investors with most qualified and efficient quotation service, good liquidity supports, as well as customized trading demands. We will also provide online consulting service to any questions in the Bond Connect market. We sincerely look forward to your contact.

http://www.bosc.cn/en/index.shtml

Bank of Ningbo Co., Ltd.

Founded on 10 April 1997, Bank of Ningbo became the first city commercial bank listed on Shenzhen Stock Exchange on 19 July 2007. By the end of December 2017, Bank of Ningbo has set up 12 branches, with an overall 315 business networks and more than 15,000 employees. By the end of 2017, Bank of Ningbo had a total asset of RMB1032.042 billion. In 2017, Bank of Ningbo achieved net profit of RMB 9.334 billion. The NPL ratio was 0.82%, continuing to keep the lowest level among China listed banks. It was ranked 175th globally in terms of Tier-1 Capital among "Top 1000 World Banks, 2017" and received Baa2 rating from Moody's since 2015.

Bank of Ningbo facilitates oversea institutional investors to get an easier and faster access to Bond Connect, a service package consists of not only secondary market, but also primary market. For secondary market, the average time needed for RFQ is less than 30 seconds and Bank of Ningbo can provide the quickest RFQ reply in markets. For primary market, Bank of Ningbo can provide services from fee and tax information to flow dynamic and market views.

http://www.nbcb.com.cn/english/About_NBCB/201509/t20150910_86020.shtml

Bank of Nanjing Co., Ltd.

Bank of Nanjing was founded on February 8th 1996. It has a joint-stock system including state-owned shares, domestic-funded shares, foreign-funded shares and individual shares. International Finance Corporation(IFC) has become its shareholder since 2001 and the bank has set up a strategic cooperation with BNP Paribas in 2005. Among China city commercial banks, Bank of Nanjing was the first to start the pre-IPO tutoring and successfully went public in 2007. Currently, the registered capital of the bank is 6.059 billion RMB. And the bank has 17 branches, 161 sub-branches, and a total number of 8000 employees. In 2006, Bank of Nanjing was selected as one of the World's Top 1000 Banks by "the Bankers" magazine for the first time. Since then, its bank's ranking goes up year by year. It ranked 152th in 2016, rising 49 places from the year before.

Bank of Nanjing will focus on the SMEs and retail banking product lines and meet the demands of SMEs and personal customers persistently. The bank will also concentrate on Financial Markets, Asset Management, Investment Banking and Interbank business as its featured businesses, promoting the influence of its brand.

Bank of Nanjing will continue its exploration of the integrated organization of multi business lines to achieve steady and sustainable growth.

http://english.njcb.com.cn/

HSBC Bank (China) Co., Ltd.

HSBC Bank (China) Company Limited is owned by the Hong Kong and Shanghai Banking Corporation Limited and started operations on 2 April 2007.

HSBC China is one of the 54 Primary Dealers (PD) in onshore licensed to underwrite RMB government bonds. It is also one of the first among international banks granted Type B Lead Underwriting License to underwrite corporate panda bonds. Before that HSBC China has been acting as Underwriter for onshore non-Financial Enterprises' Debt Financing instruments since 2011.

HSBC China is also an active player in secondary market particularly with the trading of government bonds, policy financial bonds, Negotiable Certificate of Deposit (NCD) and high-grade credit bonds.

On 3rd July 2017 HSBC China as one of the first batch of Bond Connect Participating dealers, dealt the first trade on Bond Connect.

Since then HSBC China has set a business strategy of automating the settlement process and implementing straight through processing to continue enhancing operational efficiencies. HSBC China has been recognized by local clearing houses as excellent and strong local bond clearing member over the past years.

HSBC was awarded by CFETS/HKEX on 3rd July 2018 as among the 8 Best Participating Dealers, out of 24 participating dealers.

https://www.about.hsbc.com.cn/

Standard Chartered Bank (China) Ltd.

Standard Chartered Bank China Limited was one of the first foreign banks to locally incorporate in China in April 2017. This demonstrates the bank's commitment to the China market, and its leading position as a foreign bank in the banking industry.

In 2017, it has successfully supported investor clients, including China Merchants Securities, GF Global Capital, Manulife Asset Management and Tai Kang Asset Management HK, on the first day of Bond Connect Programme by acting as a market maker in China and offering settlement, custody and FX service in HK. The bank was also mandated as Special Underwriter in China and Joint Global Coordinator in Hong Kong for Agricultural Development Bank of China's RMB 16 billion bond issuance, the first primary offer out of the Bond Connect Scheme. The successful launch of the Bond Connect marks a significant milestone for China's opening up of its onshore capital market. The scheme not only provides an additional channel for international investors to tap into the world's third largest bond market, but also reinforces HK's strategic importance as the gateway between China and the rest of the world. SCB will continue to offer its full suite of first-class services for all investor clients, from bond trading and settlement, to access to onshore RMB FX market and bond custody, so that it would make gaining access to China's interbank bond market an effortless task.

https://www.sc.com/cn/en/

Citibank (China) Co., Ltd.

Citi is the most global of all international banks in China and is one of the first Bond Connect Participating Dealers since its inception in 2017. Citi has been a market maker of the China Interbank Bond Market since 2009 and is a primary dealer of China Government Bonds and open market operations. Citi has been actively participating in the market making of fixed income securities in China, and contributing to the development, innovation and opening-up of the Chinese market. Leveraging a rich experience in domestic and international financial markets, Citi is a global leader in fixed income, ranking No. 1 in fixed income market share for 3 consecutive years according to Greenwich Associates. The locally incorporated entity, Citibank (China) Co. Ltd. is wholly owned by Citibank N.A. For international investors on Bond Connect, Citi provides a full suite of front-to-back China fixed income solutions, with dedicated teams in China, Hong Kong and across its global network delivering comprehensive research, trading, foreign exchange, hedging, and custodian capabilities. Besides being the Participating Dealer in China, Citi is also a Hong Kong Settlement Bank providing CNY foreign exchange services for Bond Connect, and a member of the CMU.

https://www.citibank.com.cn/sim/english/index.htm

BNP Paribas (China) Ltd.

BNP Paribas (China) Limited enjoys leading positions in fixed income, energy and commodity finance, structured finance, transaction banking, and is an active player in cross-border RMB banking business. With strong trading capacity in most CNY products in China, BNP Paribas (China) Limited is one of the main liquidity providers and market makers in China's onshore interbank market, offering clients investment and hedging strategies in all currencies.

BNP Paribas (China) Limited has become one of the eligible Bond Connect Market Makers since the launch of the programme, and awarded "Bond Connect Best Participating Dealers" by CFETS and HKEX in July 2018. BNP Paribas (China) Limited provides a full scope of service, including trading, responsive sales coverage, and in-depth research.

In addition to BNP Paribas China's strong capability as a market maker, BNP Paribas as a group provides one-stop service to clients from custody to trading with Bond Connect. BNP Paribas Hong Kong Branch is a qualified CFETS FX member to provide FX conversion and hedging services. On the custody side, BNP Paribas Securities Services Hong Kong is a registered CMU member, qualified to provide custody and settlement services for eligible overseas investors.

http://www.bnpparibas.com.cn/en/

Deutsche Bank (China) Co., Ltd.

With over 140 years in China, Deutsche Bank first established a presence in Shanghai in 1872 as its very first overseas office. In 2008, Deutsche Bank (China) Co., Ltd. (Deutsche Bank China) was officially incorporated as a wholly-owned subsidiary of Deutsche Bank AG. Over the past decade alongside the gradual opening up of China capital market, DB China has been actively involved in every step and is among the first batch of quotation institutions since the launch of Bond Connect. DB has been an active player in China interbank bond and FX market and are fully licensed in bond, FX, derivatives and custody fronts. Globally DB services international clients in APAC, UK, Europe, Middle East and Americas with RMB solutions. Across the China subsidiary and Hong Kong branch DB provides one stop solutions from bond trading to FX hedge and custody.

https://china.db.com/china/index_e.html

DBS Bank (China) Ltd.

As a leading wholly foreign-funded bank, DBS Bank (China) has maintained a good reputation and excellent market performance in China's interbank bond market for more than a decade. Being an active trial market maker and liquidity provider, the trading performance of DBS China is among the top of foreign banks.

DBS China firmly supports China’s economic reform and opening up, as well as the opening up of the financial markets. Since the launch of Bond Connect, DBS China has been the first batch of market makers and overseas custodian banks, and has fully utilized the market network advantage in the Asian region and successfully introduced qualified foreign investors to China's bond market. Due to the contribution, DBS China has won the award of Bond Connect Best Participating Dealers in 2018. In the first half of 2019, DBS China's trading volume via Bond Connect has exceeded CNY 50 billion, further contributing to the expansion and opening up of China's capital markets.

Our experienced trading team and comprehensive support officers will provide excellent and competitive trading service to all market players.

https://www.dbs.com.cn/index/default.page

MUFG Bank (China) Ltd.

MUFG Bank (China) has contributed to build and develop financial markets through promoting financial market business, including FX products, Derivative products, and Fixed Income business. We are not only the first foreign bank that issued a RMB bond in China in May 2010, but also the first foreign bank (Hong Kong Banks excluded) that issued a RMB Bond (Dim-Sum Bond) in Hong Kong in May 2014. To satisfy customers' funding needs, we also took a variety of measures to help them in the DCM through underwriting of ABS and financial bonds. Now MUFG Bank (China) is among the most active foreign banks of onshore RMB bond trading, and is also among the syndicate underwriters of China Development Bank and China Export-Import Bank RMB Bonds. We have won prices including "Active participants of Chinese Bond Market in 2017" by CFETS, "Excellent cross border coordinators of Bond Connect" by CDB, "Excellent new syndication members in 2016" by EXIM Bank, and "Excellent participants of Chinese Bond Market in 2016" by CDC.

JPMorgan Chase Bank (China) Co., Ltd.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. J.P. Morgan has been doing business in China since 1921. Our services include corporate and investment banking, commercial banking, treasury services, markets, investor services and asset management. Today, we serve Chinese and international corporations, financial institutions and government agencies through our network in Beijing, Shanghai, Tianjin, Guangzhou, Chengdu, Harbin, Suzhou and Shenzhen. In China, we have built a comprehensive range of local capabilities in CIBM including interbank lending, cash bond trading, Repo/Reverse Repo, interest rate swap, debt financing instruments of non-financial enterprises underwriting and Type-A bond settlement etc. Combining these local capabilities with the firm's global leadership and expertise in the markets and investor services and a strong network across over 100 markets, J.P. Morgan is well positioned to help clients tap into the increasing opportunities in China's bond market.

https://www.jpmorganchina.com.cn/country/CN/en/jpmorgan

Mizuho Bank (China), Ltd.

Mizuho Bank (China), Ltd. (short name for Bond Connect "MHSH") is affiliated to Mizuho Financial Group, which is one of the largest financial institutions in Japan. We are the first Japanese bank to incorporate locally in mainland China and maintain "A" long-term rating and "A-1" short-term rating from Standard and Poor's.

Mizuho Bank (China) is accredited by CFETS as a Volunteer Bond Market Maker in China Interbank Bond Market (CIBM), serving both onshore and offshore institutional investors, and enjoys a high reputation in secondary bond market for distinctive bond market-making and settlement capabilities. We have been awarded the "2017 Excellent Prop Institution" by China Central Depository & Clearing Co., Ltd. (CCDC), "2017 Interbank Home Currency Market Top 300" and "Core Dealer" by CFETS.

As one of the foreign-bank bond underwriters for China Development Bank (CDB) and Agriculture Development Bank of China (ADBCH) as of 2018, we are dedicated to service our customers professionally. Mizuho Bank (China) has been awarded "2017 Best Foreign Institution Underwriter Award" by ADBCH.

https://www.mizuhobank.com/china/cn/index.html

Bank of America Shanghai Branch

Bank of America Merrill Lynch ("BofAML") is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Global Market provides various product and services around the globe to clients in support of their investing, trading and risk management activities.

In July 2018, BofAML was named the World's Best Bank by Euromoney which acknowledges its strong financial performance, clearly differentiated business model, ability to adapt to changing market and regulatory conditions, innovation and track record of delivering for shareholders and clients.

BANA Shanghai is one of the most active foreign banks trading in China. It is an official FX market maker and a trial bond market maker. On 3 July 2018, it became an official Bond Connect market maker. It serves both local and global institutional investors in rates bond market. As one of the most active foreign bond market makers, BANA Shanghai maintains its cash bond trading volume ranking top 70 over 23000+ members.

CITIC Securities Co., Ltd.

CITIC Securities Company Limited (CITICS) is China's largest investment bank by revenue, net profit and assets. Dual listed in Shanghai and Hong Kong, CITICS is rated Baa1/BBB+ by Moody's and S&P, and AAA domestically. Headquartered in China with office location in Hong Kong, London, New York, Tokyo and over 20 cities across the world, CITICS and its fully owned oversea subsidiary CITIC CLSA provides full service to global investors.

CITICS has a strong franchise in fixed income business with full underwriting and trading licenses that makes it stay on the top in the industry consistently. As a Class A member of China government bond underwriter, CITICS ranks No.1 among peers in terms of the total sales and trading of interest rate bonds from 2015-2017. CITICS is an active market maker in both CIBM and Bond Connect, and is awarded Outstanding Bond Market Dealer in CIBM and Bond Connect Best Participating Dealer in 2018.

CITICS can provide full solution on bond investment and trading for Bond Connect investors. The company has a dedicated fixed income team on foreign investor service, and one of the best bond research teams in China. With broad client base, strong market making capability, comprehensive business coverage on all fixed income products, CITICS is your reliable bond trading partner and the ultimate "go-to-house" in China.

http://www.cs.ecitic.com/newsite/en/CorporateInformation/aboutciticsecurities/201710/t20171016_61176.html

Guotai Junan Securities Co., Ltd.

GTJA, a comprehensive financial provider with a long-term, sustainable and overall leading position in the Chinese securities industry, has gone through the whole course of multiple periods of the development of Chinese capital markets. While GTJA is always client-oriented and firmly based in the Chinese market and provides various financial services for individuals and institutional clients, it has established itself as a leader in an all-round manner. From 2007 to 2017, GTJA has occupied the top three places in terms of operating revenue for nine years. While GTJA is committed to realizing the high-quality growth in scale, it also lays emphasis on its profitability and risk management. Since 2008, GTJA is the only one among the Top Five Securities Companies in China, who has been rated as A level of AA class, the highest rating, for ten consecutive years by CSRC. Based on strong competitive advantages in China, GTJA will positively satisfy the cross-border demands of clients, practically promote the process of internationalization, develop a global business network, and strive to be a diversified financial service provider of significant influence across the world.

http://www.gtja.com/content/gtja_en/index.html

Orient Securities Co., Ltd.

GF Securities Co., Ltd.

Established in 1991, GF Securities is a leading investment banking, securities and investment management firm that provides a wide range of financial services to a substantial client base of corporations, financial institutions, governments and individuals in China. The company was successfully listed on the main boards of the Shenzhen Stock Exchange (000776.SZ), and the Hong Kong Stock Exchange (1776.HK), in 2010 and 2015 respectively.

Since 1994, GF Securities has been ranked top ten among all securities companies in major key performance indicators including total assets, net assets, net capital, operational revenue and net profits. As of December 31, 2017, the group's total assets reached RMB 356.905 billion, with equity attributable to the shareholders of RMB 84.854 billion. The operational revenue of 2017 reached RMB 21.576 billion, with net profits attributable to shareholders of RMB 8.595 billion. We have been always at the forefront of the securities industry in terms of capital strength and profitability, and our market capitalization tops the list among all listed securities companies in China.

To meet various service needs of our clients, we are fully licensed to provide comprehensive coverage across four major business lines: investment banking, wealth management, trading and institutional client services, and investment management. The balanced development of each business line has helped GF Securities to rank the top in each key segment. As of December 31, 2017, GF Securities operates 264 brokerage branches, providing extensive services to cities and autonomous regions of 31 provinces throughout China.

GF Securities has been selected as one of the first 24 market making firms under the Bond Connect regime. Supported by solid pricing and trading capabilities in the Fixed Income business, GF Securities is actively engaging in price quotations and market making across treasury bonds, policy financial bonds, central bank bills, medium-term notes, short-term financing bills, enterprise bonds, corporate bonds and interbank deposit certificates etc., with total trading volume over RMB 10 billion since the launch ceremony of Bond Connect on July 3, 2017. GF Securities has made significant progress in terms of opening up domestic bond markets to international investors, and will continue to improve cross-border services and international development of FICC products. GF Securities is striving to make excellent progress in fulfilling its vision of becoming a competitive, modern, internationally recognized investment bank.

http://en.gf.com.cn/

China International Capital Corp., Ltd.

China International Capital Corporation Limited (CICC, 3908.HK, S&P rating BBB) is China's first joint-venture investment bank and an international best practices pioneer. CICC has received numerous financial industry honors, including Best Investment Bank in China, Best Sales Service Team, and Most Influential Research Institution awards bestowed at home and abroad. As one of the earliest market makers in CIBM, CICC is one of only two brokers on PBOC’s approved list of primary dealers of open market operations. CICC Fixed Income team is full licensed in China and provides full fixed income product access to both onshore and offshore clients – Primary, Secondary, Bond Futures, and other derivatives.

CICC provides one point access to the firm’s resources via one of the market’s first cross border sales team. CICC fixed income research provides full coverage on all onshore credit bonds, and has also won numerous domestic and international awards, such as 15 consecutive “New Fortune” award, 2015-2018 Crystal Ball Award, 2019 Institutional Investor, and The Asset. On the trading side, CICC has been named Outstanding Bond Market Dealer in CIBM every year. In July 2017, CICC became one of the first batch authorized market makers under Bond Connect, and was named "2017 Quotes Most Accepted by Foreign Institutions via Bond Connect" by CFETS.

http://www.cicc.com/

China Securities Co., Ltd.

China Securities Co., Ltd. (also known as CSC or CSC Financial Co., Ltd. In Hong Kong) is headquartered in Beijing and ranks among the Top 10 largest securities companies in the industry with the highest class A/AA rating for 10 consecutive years. CSC .was listed on the Hong Kong Stock Exchange (6066.HK) in December 2016 and got listed on the Shanghai Stock Exchange(601066.SH) in June 2018.

All business segments of CSC are developing rapidly and especially the Investment Banking business has ranked among top 3 securities companies for the past six years. The number and volume of bond underwriting deals ranked No.1 for the past four years. CSC has conducted market-making/client execution business since 2008, including interbank market, exchange market and OTC market. In 2018, CSC was granted the "Interbank Market Core Trader" and "Excellent Bond Trader".

CSC has an extensive group of clients and great expertise in investment and research. Through bond connect, CSC will provide high quality, comprehensive and specialized financial services for bond connect investors.

https://www.csc108.com/prospectusNew/toList.jspx

Ping An Securities Co., Ltd.

As an important member of Ping An Insurance (Group) Company of China, Ping An Securities is established in August 1991 and formerly known as the Securities Department of Ping An Insurance. As of end of 2017, PAS had RMB13.8 billion in registered capital, RMB 27.2 billion in equity, and RMB 97.677 billion in total assets.

PAS maintains leading position in FICC business. Our market-making capability has become the industry benchmark with IRS trading volume exceeding RMB950 billion, up 66.7% from previous year. In 2017, we won CFETS' ‘Service Award of the Year' and ‘Best Technology Award'. We also developed the capability of constructing bond indices and 8 benchmark bond indices have been launched. PAS is also among the best in fixed-income trading business: ranked top 5 in CGB underwriting, CGB trading, and bond futures trading and rated by the regulators as a ‘Key Dealer', an ‘Excellent Bond Market Dealer' and an ‘Excellent Proprietary Business Institution' in 2017. Our revenue generated from strategic trading increased by 255% YoY. Breakthroughs have been made in providing trading services such distributions of CPs and MTNs, as well as derivatives trading on behalf of customers. We completed the first OTC interest rate option transaction in domestic market.

http://www.pingan.cn/en/index.shtml

China Merchants Securities Co., Ltd.

China Merchants Securities (hereinafter referred to as "the company" or "CMS") was founded in 1991. As a leading financial enterprise under the China Merchants Group, the company inherited the century-old brand name, as well as a sound business and risk management philosophy. Initially established as the securities division of China Merchants Bank, the company continuously grew its business and transformed to a highly integrated full-service securities firm, with its business activities in domestic and international markets spanning numerous sectors, including brokerage, proprietary trading, wealth management, investment banking etc. The company achieved many feats of first in various business segments, by the virtue of its strong capital strength, excellent risk management measures and preeminent professional teams. As the end of 2018, the company's total asset, net asset, net capital, revenue, net profit ranked 7th, 6th, 8th, 8th and 6th, respectively, among 129 securities firms in China.

Relying on the company's strong capital strength and talented professionals, CMS has been establishing a comprehensive platform for fixed income business, featuring a whole business range of fixed income securities and an all-around client service system. The fixed income division administers four departments, including bond sales, bond proprietary trading and research, innovative business and middle office.

China Merchants Securities entered the interbank market in 1999, among the first batch of securities firms. CMS became a member of market makers for the interbank market since 2014. CMS has been focusing on the interbank market trading and market making as its core competitiveness by strengthening the trading capabilities and expanding the scope of clients and counterparties. The fixed income division now has established counterparty relationships with over 5000 institutional clients. The fixed income division also actively participates in product innovation and was among the first batch to trade interest rate swap, credit default swap, bond lending and many other innovative products, and obtained the qualification of foreign exchange business in 2019. While the Fixed Income Department provides service for on-shore fixed income securities, CMS International, wholly-owned by CMS, provides sales and trading service for off-shore securities in Hong Kong.

http://www.newone.com.cn/en

China Everbright Bank

China Everbright Bank (CEB), which was established in August 1992 and headquartered in Beijing, is a national joint-stock commercial bank approved by the State Council of China and the People's Bank of China. The Bank was listed on the Shanghai Stock Exchange (SSE) in August 2010 (stock code 601818) and the Hong Kong Stock Exchange (HKSE) in December 2013 (stock code 6818). The Bank ranked No. 39 in the "Top 1,000 World Banks" by the Banker, a U.K. magazine, in 2018, rising by 10 places over the previous year.

Over the years, along with the evolution of Chinese economy and the growth of Chinese financial sector, the brand image and market value of the Bank has been enhanced continuously. As a primary designated market maker, CEB has been performing excellently in the Chinese interbank bond market, offering products and tools of investment, assets management and risks management to clients.

The Bank continued to carry out RMB bonds market-making and proprietary trading in order to constantly expand its market-making ability and market influence. As a result, the Bank further consolidated its status as a primary dealer in open market, a member of the SHIBOR quotation team, IRS fixing curves quotation team, RMB bonds market-maker, and a leading underwriting group member for government and financial bonds.

http://www.cebbank.com/

The Export-Import Bank of China

The Export-Import Bank of China is a state-funded and state-owned policy bank with the status of an independent legal entity. It is a bank directly under the leadership of the State Council and dedicated to supporting China's foreign trade, investment and international economic cooperation.

With the Chinese government's credit support, the Bank plays a crucial role in promoting steady economic growth and structural adjustment, supporting foreign trade, and implementing the "going global" strategy. It is committed to reinforcing financial support to key sectors and weak links in the Chinese economy to ensure sustainable and healthy economic and social development. In China, the Bank has 32 branches on the mainland and one representative office in Hong Kong. Overseas, it has the Paris Branch, Representative Office for Southern and Eastern Africa, St. Petersburg Representative Office, Representative Office for Northern and Western Africa.

http://english.eximbank.gov.cn/

Ping An Bank

Ping An Bank (PAB) is a national joint-equity commercial bank headquartered in Shenzhen. Its predecessor, Shenzhen Development Bank, was the first listed national joint-equity bank in mainland China.

PAB maintains robust overall operations. In 2018, PAB recorded revenue of RMB116.716bn, up by 10.3% YoY; and net profit was RMB24.818bn, up by 7.0% YoY. At the end of 2018, PAB had RMB3, 418.592bn assets in total and 34,626 employees, providing clients with diversified financial services through 80 branches and 1,057 outlets across the country.

PAB has always been one of the most active bond trading institutions in the inter-bank bond market and its excellent performance has been recognized by the market participants and regulators. Awards include "Core Dealer", "Excellent Derivatives Dealer", "Auto Trading Innovation Award", "Excellent Proprietary Trading Dealer", "Excellent Issuer" and "Excellent Custodian" from CFETS and CCDC.

In recent years, PAB has been further strengthening its support for fixed income products market making business. PAB introduced many top talents in both domestic and international market, upgraded and integrated the trading systems and brought online the new cutting-edge electronic trading system which supports large-volume, high-frequency and quantitative market making, boosting PAB's market presence and reputation to a new higher level.

http://bank.pingan.com/en/index.shtml

Bank of Jiangsu Co., Ltd.

Bank of Jiangsu, a modern joint - stock commercial bank, was founded by merging and reorganizing the ten commercial banks in cities of Wuxi, Suzhou and Nantong in Jiangsu province, which created a new model of local corporate banking reform. Formally entered service on January 24, 2007, It is a Large local provincial corporate bank in Jiangsu.

Bank of Jiangsu, adhering to the mission of "providing high-quality financial service for customers" and guided by the enterprise culture of "Integration and innovation, pragmatic and assuming, excelsior and adolescing", always sticks to the development direction of characteristic, intelligence, internationalization and integration and devotes itself to the construction of a characteristic and first-rate commercial bank with core competition advantage. It has now developed into a modern joint-stock bank boasting strong comprehensive strength and market competitiveness. As of the end of 2018, it has possessed total assets of 1,925.8 billion yuan, total deposits of 1,093.3 billion yuan, and has provided loans of 889.2 billion yuan in total.

The development of Bank of Jiangsu has been widely recognized by all sectors of society. It has been presented the honorary titles of "Outstanding Enterprise in Jiangsu Province" and "The National Banking Financial Institutions Small and Micro-Enterprise Financial Services Advanced Units" by Jiangsu Provincial Party Committee and Jiangsu Provincial Government, and has been rated as "The Most Competitive Small and Micro Banks" by Financial Times. It ranked 91st among the top 1000 world banks listed by the Banker (a British professional magazine) in 2018. As one of the fastest growing banks in China, it was named as "The Best City Commercial Bank in China" by Global Finance (U.S.).

http://www.jsbchina.cn/EN/index.html

Bank of Hangzhou

Bank of Hangzhou was established in September 1996. Since its inception, Bank of Hangzhou is dedicated to serve the regional economy, SMEs and residents in the urban and rural areas with professional and convenient financial services.

According to the 2018 Global Bank Top 1000 List published by the Banker Magazine, Bank of Hangzhou ranked 180th in terms of Tier 1 capital among the 1000 global banks, ranking 29th higher than the previous year. With good performances and comprehensive strength, Bank of Hangzhou was awarded as the "Top 10th City Commercial Bank of the Year" and "Excellent Com petitive Financial Technology Bank" by reverent professional institutions.

Bank of Hangzhou officially joined the National Interbank Funding Center in June 1997 and is one of the earliest members of the Chinese bond market. As a trading character with great brand image in the domestic financial market, the financial market business of Hangzhou Bank covers varieties of financial market sectors including the money market, bond market, gold market, foreign exchange and derivatives markets. Moreover, it earns varieties of qualifications, such as official bond market maker, derivatives dealers, bond settlement agents, members of government bonds and policy banks, financial bond underwriting syndicate, non-financial corporate debt financing instruments, A-class lead underwriters.

http://www.hzbank.com.cn/hzyh/ywz/index.html

Xiamen Bank

Xiamen Bank was established on 30th Nov, 1996. Now Xiamen Finance Bureau is the largest shareholders of Xiamen Bank. In 2008, Xiamen Bank have successfully taken Fubon Bank (HK) as its strategic investors. So far, Xiamen Bank becomes the first and the only city commercial bank with Taiwan investment background. Now Fubon Financial Holdings becomes the second largest shareholder of Xiamen Bank, also an important strategic investor, and a significant cooperative partner.

With years of growth, Xiamen Bank has established more than 50 modernized service spots with over 2,300 employees, fully operated in all districts in Fujian Province and Chongqing City.

By December 2018, the total assets of Xiamen Bank have reached 232.41 billion yuan, with a 9.2% yearly growth, while total deposits have reached 120.86 billion yuan, with a 8.2% yearly growth.

Xiamen Bank plays a significant role in inter-bank market, as a primary dealer of open-market operation, which is also one of 48 core banks among 3,800 banks in mainland China. CFETS awarded Xiamen Bank as the Core Dealer of RMB Market , and the Best Member of RMB bond market and so on.

Now Xiamen Bank is ready for the ‘Bond Connect’. It has equipped the most licenses in west coast economic zone in China. In the future, Xiamen Bank will further develop the advantages of licenses, investment banks, and especially in dealing with Taiwan related business to serve Bond Connect investors.

http://www.xmccb.com/

Shanghai Rural Commercial Bank

Shanghai Rural Commercial Bank (SRCB) was established on August 25th 2005 in Shanghai. SRCB has registered capital RMB 8 billion and it owns about 400 branches with more than 6,000 employees. SRCB established FINANCIAL MARKETS BUSINESS since 2004 to run its Treasury Management and Proprietary Trading. Financial Market Business of SRCB is shifting its focus to Trading & Sales in the latest few years, while still playing an important role in Treasury Management. SRCB is a top dealer of Chinese financial markets, initial member of China Foreign Exchange Trade System (CFETS). Our financial markets business focuses on money market, bond market and derivative market. Our trading volume keeps USD 2.7 trillion per year, which ranks top 30 of the interbank RMB market. Our bonds investment reaches USD 29 billion by June 2019.

We expect Chinese bond market will further open up in the foreseeable future. With our privileged licenses and long-term bond market experience, SRCB can provide a wide range service for foreign institution investors.

http://www.srcb.com

Shenwan Hongyuan Securities Co., Ltd.

Shenwan Hongyuan Securities Co., Ltd., formed by the merger of Shenyin & Wanguo Securities Co., Ltd.(the first joint-stock securities company of China) and Hongyuan Securities Co., Ltd.(the first listed securities company of China), officially started operation on January 16, 2015. The registered capital of the company is 43 billion Yuan. In domestic market, Shenwan Hongyuan has 8,000 employees, 34 regional branches and 309 sub-branches across China. In overseas markets, the company has set up branches in Hong Kong, London, Tokyo, Singapore and Seoul.

Currently, Shenwan Hongyuan is qualified for a full range of securities business, which includes securities brokerage, securities investment advisory, margin trading and securities lending, distribution of financial products, distribution of securities investment funds, intermediary business of future companies, securities assets management, securities sponsoring and underwriting, securities proprietary trading and stock options market-making.

Shenwan Hongyuan will put more emphasis on business operation in Shanghai, Xinjiang, Hong Kong, Singapore and some other areas with the support of China Investment Corporation, Central Huijin Investment LTD and other shareholders. This not only aligns with national development strategies, but also facilitates the transformation and innovation of the company. Shenwan Hongyuan will accelerate its step to realize the aim of becoming a modern investment bank with international competitiveness, brand influence and systemic importance. In this way, Shenwan Hongyuan will also make positive contributions to China's capital markets.

http://www.swhysc.com/

Donghai Securities Co., Ltd.

Donghai Securities Corporation Limited (short name for Bond Connect 'DHS') was established in 1993 which is one of the earliest-established, fully-licensed securities companies in China. In 2015, DHS landed on the National Equities Exchange and Quotations (NEEQ).

Fixed Income business is the core competitiveness of DHS. Relying on our solid pricing and trading capabilities, DHS has been an excellent underwriter of policy bank bonds since 2012 and a market maker for Trial of China ineterbank market (in short 'CIBM') since 2014. Also, we were accredited as Core Dealer in 2017.

DHS has developed a number of advanced IT systems, which can accelerate the settlement efficiency, strengthen the ability of risk management, improve customer experience, show our axes, and automatically fill clients' RFQ through our API channel timely. With the support of our functional systems, our market maker business ranked as top tier among the CIBM market makers. DHS has been awarded 'Excellent Market Maker of CDB bonds', 'Trading Mechanism Innovation Award-XBond' and 'Automated Electronic Trading Innovation Award' by CFETS in 2018.

DHS will dedicate to providing competitive pricing and service to offshore investors.

http://www.longone.com.cn/main/index.html

Huatai Securities Co.,Ltd.

Huatai Securities Co.,Ltd. (the “Company” or “HTSC”) is a leading integrated securities group in China, with a substantial customer base, cutting-edge digital platforms and a highly collaborative full-service business model. HTSC was established in 1991. The Company was listed on the Shanghai Stock Exchange in 2010, and was listed on the Main Board of the Hong Kong Stock Exchange in 2015. HTSC operates four principal business segments including wealth business, institutional services business, investment management business and international business. It provides a full range of securities and financial services to customers with its domestic advantages and a global vision.

The major financial indicators of HTSC have stayed ahead of the domestic security industry. According to SAC, the net asset of the Company in 2018 was RMB100.59 billion, ranking NO.4 among 97 domestic security companies. The total operating revenue was RMB16.11 billion, and net profit was RMB4.75 billion, both ranking NO.4.

HTSC has been cultivating fixed income investment and trading. As one of the most active security companies within domestic bond market, HTSC is strongly experienced in fixed income trading and investment. HTSC has been dedicated to market making business which covers spot and derivatives, such as treasuries, corporate bonds, and T-bond futures for quite a long time. Furthermore, the Company has established an effective risk control system, which ensures that its business could operate smoothly and efficiently. By 2019 June, the Company’s trading volume of treasuries, financial bonds and corporate bond has achieved over 2.7 trillion, approximately 20 billion per day, ranking top 3 among the security companies.

http://www.htsc.com.cn

Tianfeng Securities Co., Ltd.

Tianfeng Securities Co., Ltd (hereinafter referred to as "Tianfeng Securities" or "the company") was founded in March, 2000. As a nation-level securities company headquartered in Wuhan, it is fully licensed to conduct comprehensive securities businesses and one of the two securities companies in Wuhan that have obtained the legal person status. Since its founding, the company has always upheld its business concept of "Integrity, Robustness, Innovation and Efficiency", promoted the corporate culture of "Diligence, Teamwork, Sincerity, Persistence, Equality and Openness", adhered to the value of coexistence and mutual benefit with clients and the Clients First principle, actively explored ways for coordinated development of clients, its staff, society and the company, striven to provide comprehensive wealth management and value-added services to investors, and endeavored to establish a dual-core driving international comprehensive financial group centered on the "wealth management ability" and " general investment banking service ability".

Until now, the registered capital of Tianfeng Securities is 5.18 billion RMB. Tianfeng Securities has owned 98 securities sales departments, 16 branches, 4 subsidiaries across the country and one of the subsidiaries was setted up in Hongkong, providing comprehensive financial services based on a global perspective and radiate across the world. As of October 19, 2018, Tianfeng Securities was successfully listed on the main boards of the Shanghai Stock Exchange (601162.SH).

http://www.tfzq.com/

Zheshang Securities Co., Ltd.

Zheshang Securities Co., Ltd. (“Zheshang Securities”, stock code: 601878), originally founded on May 9, 2002 and renamed in August 2006, is an integrated securities firm headquartered in Hangzhou, Zheshang Securities established upon approval by the China Securities Regulatory Commission (CSRC), currently with a registered capital of RMB3.333 billion. Zheshang Securities got listed on the Shanghai Stock Exchange (SSE) on June 26, 2017. It is the first listed securities company controlled by state-owned assets in Zhejiang Province.

Over these years, Zheshang Securities has been committed to offering integrated investing and financing services, managing residents’ wealth, and actively serving the real economy. In this process, an integrated financial industry footprint gradually took shape. From 2006 to 2018 , the Company has, on an accumulative basis, generated RMB33.8 billion in operating revenue, RMB12.8 billion in total profit and RMB9.5 billion in net profit, distributed RMB124.7 million to shareholders, and paid RMB5.1 billion of taxes. Zheshang Securities has three wholly-owned subsidiaries, i.e., Zheshang Futures, Zheshang Capital, and Zheshang Asset Management, and more than 100 affiliates in 22 provinces across China, serving three major economic regions, i.e., Pearl River Delta, Yangtze River Delta and Bohai Rim. With integrated investing and financing services covering China’s most active provinces, the Company has built a national wealth management network.

Built on the time-honored cultural legacy of Zhejiang merchants and good governance over a decade, Zheshang Securities has translated this cultural DNA into valuable spiritual assets and inherited the pragmatism and innovative spirit of Zhejiang merchants. With “create, share and grow together” as the core of its corporate culture, Zheshang Securities aspires to establish itself as a distinct wealth value-added service provider outstandingly with Zhejiang merchants culture.

https://www.stocke.com.cn

UBS Securities Co., Ltd.

UBS Securities Co. Limited (UBS Securities) is the first foreign-invested securities firm in China with full licenses to conduct businesses including: securities brokerage; securities investment consultancy; financial advisory related to securities trading and securities investment activities; securities underwriting and sponsoring; securities trading; securities asset management; and distributing financial products.

In December 2018, UBS AG increased its shareholding in UBS Securities to 51%, which was the first time that a foreign financial institution had raised its stake to take majority control of a securities joint venture in China. Leveraging on UBS Securities' strong local expertise as well as the international experience of UBS group, the firm remains at the forefront of the financial industry in China.

The Fixed Income team at UBS Securities aims to become a leading player in China with an advantage in cross-border business. As China gradually opens the onshore bond market to global investors, the team, supported by the global network of UBS AG, is dedicated to provide both domestic and international institutional clients with best execution, innovative ideas and high-quality services. Comprising of talent with a wealth of experience, the team has a deep understanding of China's fixed income markets and solid distribution and risk management capabilities. With a capital-efficient, client-focused business model, the team has built relationships with a variety of global institutional investors, and will continue to provide market-leading services and advice to them in China's onshore bond market.

https://www.ubs.com/cn/en/ubs-securities.html

Postal Savings Bank of China

China Post Savings can be traced back to the postal savings business started in 1919, and has a history of 100 years. In March 2007, on the basis of reforming the original postal savings management system, Postal Savings Bank of China（PSBC）was officially established. In January 2012, the company was restructured into a company limited by shares. In September 2016, it was listed on the Hong Kong Stock Exchange. In December 2019, it was listed on the Shanghai Stock Exchange and successfully completed the three-step reform goal of "share reform-pilot war-A, H listing".

PSBC has nearly 0.04 million business outlets and serves more than 0.6 billion individual customers. It is positioned to serve the "three rural", urban and rural residents, and small and medium-sized enterprises. Transform to a new retail bank that is data-driven, channel-based, retail-linked, and highly efficient. With outstanding asset quality and significant growth potential, PSBC is China's leading large retail commercial bank.

After 13 years of hard work, PSBC's market position and influence have become increasingly prominent. In 2019, our Tier 1 capital ranked 22nd among the top 1000 global banks in the British "Banker" magazine. Fitch and Moody's respectively gave PSBC an A and A1 rating consistent with China's sovereignty, Standard & Poor's gave PSBC an A rating, and "S & P Credit Rating" gave PSBC an "AAAspc" rating.

http://www.psbc.com/en/index.html

Bank of Qingdao

Bank of Qingdao, formerly known as Qingdao City Cooperative Bank and Qingdao City Commercial Bank, was established in November 1996 and is headquartered in Qingdao, Shandong Province. Having experienced several years of development, the Bank has constantly improved in terms of corporate governance, risk management and control and IT construction, and has developed distinctive features of “sound governance, attentive service, solid risk control and prominent technology”. In December 2015, the Bank’s H shares were listed on the Hong Kong Stock Exchange; in January 2019, the Bank’s A shares were listed on the SZSE.

The Bank’s business is based in Qingdao with its footprints covering Shandong Province. Its development is driven by three major business segments including retail banking, corporate banking and financial markets, which have formed a stronger customer base and shaped new financial business model of distinctive and high-quality development. The Bank ranks high among banks inside the province in terms of business indicators. Right now, there were 14 branches in major cities of Shandong Province such as Jinan, Yantai and Weihai. The total number of branch offices exceeds 140, and several sub-branches with distinctive features such as technological sub-branch and cultural and creative sub-branch were established successively. The Bank also initiated the establishment of BQD Financial Leasing Company Limited.

The Bank ranks among top 300 in the World Bank Top 1000 list by the Banker magazine in the UK for two consecutive years; wins the Five-Star Diamond Award, the greatest honor in service industry, for four consecutive years; and is listed in the Top Ten Leading Companies in Shandong Industrial Cluster and awarded Outstanding Enterprise in Shandong Province.
 
http://en.qdccb.com/

Bank of Dalian

Bank of Dalian, registered capital 6.8 billion Yuan, is one of the major subsidiaries under the China Orient Asset Management Corporation (China Orient AMC) which is the controlling shareholder owned 50.29% of total shares. China Orient AMC is a state-owned financial institution jointly founded by the Ministry of Finance and the Social Security Fund.

Currently, Bank of Dalian has running eight branches including Beijing, Shanghai, Tianjin, Chongqing, Chengdu, Shenyang, etc. Bank staff is around six thousand. By the end of Q3 2019, total assets amount reaches four hundred and ten billion yuan, total outstanding loans amount is one hundred and ninety-six billion yuan and total outstanding deposits amount is two hundred and seventy-two billion yuan.  

Bank of Dalian had been in the first group of the PBOC’s OMO members since 1999 and became the market maker of interbank bond market in 2014. We are always actively participating all the interbank business which has been awarded Core Dealer and Active Dealer of RMB Market by CFETS. We also lie in outstanding underwriting syndicate in primary bond market of China Development Bank, China EXIM Bank and Agriculture Development Bank of China. Above all, through years of exploring and developing, Bank of Dalian has built a widespread reputation by covering nearly the whole area of RMB fix-income market which can definitely bring more value to all kinds of the offshore investment institutions.
 
http://www.bankofdl.com/home/pc/index.shtml

Bank of Changsha

Founded in May of 1997, Bank of Changsha (hereinafter as the Bank), is the first regional joint-stock commercial bank and the largest legal person financial enterprise. The Bank was listed on the Shanghai Stock Exchange on Sep. 26th, 2018 (Stock Code: 601577) as the first listed bank in Hunan Province. Currently, the Bank owns 30 branches (direct sub-branches) including Guangzhou branch, whose business outlets have covered the counties, districts, and cities in Hunan Province. Meanwhile as the controlling shareholder, the Bank launched three village banks in Xiangxi, Qiyang and Yizhang, and Hunan Changyin 58 Consumer Finance Co., Ltd., relying on mobile banking, online banking, Wechat banking, and telephone banking to provide round-the-clock services for our clients.

The Bank always adheres to the development mission of "follow the right path and spread the benefit to the public", and holds the core value of "focusing on customers, working hard, carrying on together with joys". It also persists in deeply ploughing in Hunan to keep the positioning of "Hunan Host Bank", and has established a "one-body, two-wings, one-tail" business structure with the large wholesale as the principal business, the retail and asset management as the two wings, and the online finance as the tail, in order to create four strategic brands with respective characteristics, including smart finance, county finance, green finance, and sci-tech finance.
As of the end of 2019, the total asset of the Bank is RMB 601.998 billion, with a good asset quality and all the supervision indicators meeting the requirements. The brand influence of the Bank has been increasing in recent years and the rank of its comprehensive capacity leapt to the 273rd in Top 1000 World Banks in 2019 and the 219th of Top 500 Chinese Service Enterprises in 2018.

The Bank will stick to the development ideas of communalization, platformization, integration, intensification and intelligence, enhance the data driving to promote transformation development with innovation and stable operation with compliance, continuously improve its comprehensive financial service capacity and finally spare no effort to be a smart bank making happiness.
 
http://www.cscb.cn/

Hankou Bank

Hankou Bank is a city commercial bank in Wuhan, Hubei province, founded on December 16, 1997. By the end of June, 2019, the registered capital of the bank is 4.128 billion yuan and the total assets have reached 360 billion yuan. Hankou bank was selected as one of the Top 500 World Banks by “the Bankers” magazine since 2010.
 
The Bank’s financial market business was sound and developed in compliance with regulations. While continuing to develop bond investment, interbank investment, wealth management, foreign exchange, bills, etc., the Bank also integrated market channel resources, optimized the structure of assets and liabilities, and strengthened internal control & compliance efforts. In the complex and ever-changing financial market environment, the Bank ensured continuous improvement in operating capacity and market influence.
 
As one of the first batch of market maker in China Interbank Bond Market, Hankou Bank accumulated rich experience and has been concerned with stepping up our services. Hankou Bank has a good reputation for distinctive bond market making and high efficiency of settlement in Interbank Bond Market, and awarded “Active Dealers” by CFETS and “Excellent Proprietary Institution” by China Central Depository & Clearing Co.,Ltd for last two years.

http://www.hkbchina.com

Guosen Securities

Founded in 1994, Guosen Securities (referred to as the “GSN” in Bond Connect) is one of the earliest-established securities companies in China as well as one of the eight securities companies of the pilot innovation program. Accompanying the development of Chinese capital market in the past 25 years, Guosen has become a large listed securities company which provides full range of capital market services through its network of 217 branches in 119 cities and 4 fully owned subsidiaries, including Guosen Securities (HK). After its IPO in 2014, Guosen had founded a solid and stable shareholder structure as well as a sound corporate governance regime. The latest CSRC Rating of Guosen is AA which is the highest rating in CSRC rating system.

With qualifications to offer a full spectrum of fixed-income products, Guosen can issue, underwrite, market and trade fixed-income securities and provide research information to customers. As one of the most active market makers in China Interbank Market (CIBM), Guosen provides comprehensive investment and trading services and ranks the top among securities companies in terms of trading volume. Our active role in bond trading has been awarded “Core Market Maker”, “Active dealer” and “Market Innovation Award” by CFETS for the year of 2019. Guosen is also one of the most active dealers in both IRS and CGB futures market. Leveraging a rapidly growing team of international professionals and the extensive strength of the company, our Bond Connect team will provide a full and professional solution of bond investment and trading for foreign investors. The team of experienced traders, supported by advanced technology, broad global networks and latest research information, is dedicated to providing up-to-the-minute market information and price-optimizing trade services.

https://www.guosen.com.cn/gs/

Sealand Securities

Sealand Securities Co., Ltd. (“Sealand Securities” or the “Company”) is one of the first comprehensive securities companies in China. Its predecessor was Guangxi Securities Co., Ltd., which was established in 1988. The Company was listed on Shenzhen Stock Exchange in 2011 (stock code: 000750), making it the 16th listed A share securities company in China.
 
After nearly 30 years of development, Sealand Securities has grown into a listed comprehensive financial services company with national influence. Now, the Company has 15 branches and 128 securities business offices in 19 provincial regions in China, controls Franklin Templeton Sealand Fund Management Co., Ltd., Guohai Liangshi Futures Co., Ltd. as well as the wholly owned subsidiary Sealand Innovation Capital Investment Management Co., Ltd.. We aim to address individuals, Enterprises, Financial institutions and Government varying investment and financial needs through retail wealth management, investment banking, asset management, sales&trading, Internet finance, research and credit business.
 
Upholding the business principles of “good faith, compliance, and prudence”, and relying on favorable shareholders background and complete corporate governance, the Company has developed a highly efficient and market-oriented mechanism, cultivated the corporate culture of simplicity and pragmatic, united a professional team of talents. As a result, the Company has seized the historical opportunity of reform and development of China’s capital market and securities industry, and achieved rapid development. Main business indicators of the Company are seen at the upper level of Chinese securities industry. By the end of 2019, the Company had a  total assets of RMB 66.308 billion, net assets of RMB 14.511 billion,ranked the 28th and 35th among 133 Chinese securities companies.
 
Adherence to the customer-centric approach, the Company is committed to developing into a vigorous, distinctive, and trustworthy comprehensive financial service provider, offering the customers with professional, comprehensive, international, and platform-based financial services.
 
http://www.ghzq.com.cn/

Shanxi Securities

Shanxi Securities Company Limited (SSC) was founded in 1988 and is one of the first-batch brokers that opened business in China. On November 15,2010, Shanxi Securities was officially listed on Shenzhen Stock Exchange (002500.SZ), becoming the first broker in mid-west China whose IPO hit market on SZE and also Shanxi Province’s first State-owned financial service listco. SSC with its over 100 branches and 6 subsidiaries offers financial solutions encompassing brokerage, investment, asset management, investment advisory, financial advisory, OTC, mutual fund, innovative finance, investment banking, futures, PE and international deals.

SSC boasts a leading position on fixed income market. The Company’s cash bond settlement volume in China Bond has been among the market tops for years in a row. As one of the most active bond market makers and a member of policy bank bonds underwriter, SSC has earned market recognitions and multiple awards, including the Core Dealer in China Bond Market, the Excellent Bond Dealerand the Trading Mechanism Innovation Awardby CFETS. Moreover, SSC was recognized as an Excellent Underwriter by ADB and EXIM for its outstanding market-making performance.

SSC is geared towards providing overseas investors a full range of solutions and comprehensive services through Bond Connect, and is looking forward to accommodating your needs.
 
http://www.i618.com.cn/shouye/index.shtml

First Capital

First Capital Securities Co. Ltd (FCSC) is a Chinese investment bank and financial services company headquartered in Shenzhen. The firm launched its initial public offering on May 11, 2016, and its shares are listed and traded on the Shenzhen Stock Exchange. Its securities abbreviation is “First Capital” and its stock code, “002797”.
 
FCSC is one of the market leaders in fixed income business, with the comprehensive qualifications, comprehensive portfolio and comprehensive business services. Fully qualified in differentiated bond underwriting businesses include the market maker in interbank bond market, underwriter of book-entry treasury bonds class B, underwriter of China Development Bank financial bond, underwriter of Agricultural Development Bank financial bond class A, underwriter of Export-Import Bank financial bonds, and underwriter of debt financing tools for non-financial institutions. In 2019, the company was named “2018 Active Trader in Interbank Local Currency Market”, “2018 Outstanding Underwriter of RMB Financial Bonds”, and “Outstanding Underwriter of RMB financial bonds for the Export-Import Bank of China”.
 
 “Integrity, Enterprising and Innovation” is the core value we always pursue. To build a listed Security Company characteristics in Fixed Income and Asset Management is our strategic goal. In the future, we will continue to make great contributions to fulfill dreams of entrepreneurs and investors.
 
https://www.firstcapital.com.cn/