M88 app
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Onshore Bonds

After many years of development, China has gradually formed a bond system centering on M88 app exchange markets and M88 app interbank market. Flexible and diversified onshore bonds have become an important channel for direct financing by governments, financial institutions and enterprises. In particular, M88 app introduction of “bond connect” has furM88 appr improved M88 app liquidity and openness of M88 app China bond market. Compared with credit financing, bond financing has more advantages in aspects such as high financing amounts, long term, interest rate liberalization and more flexibility in fund usage.


JunHe has a team of attorneys with extensive knowledge and experience in M88 app fields of onshore bond laws and industry, who do not only have first class legal service skills, but also have industry knowledge and good business awareness. M88 app team’s core attorneys have for many years been named as outstanding attorneys in M88 app capital market (bond and equity) of mainland China by well-known world business attorney rating agencies, such as Chambers Asia Pacific, M88 app Asia Pacific Legal, Asia Law & Practice, and International Financing Review. JunHe can provide comprehensive legal services for M88 app issuers and underwriters in M88 app issue of financial bonds, and capital bonds by financial institutions in M88 app inter-bank bond market. M88 appy are also experienced in M88 app issue by non-financial enterprises with registration of medium-term notes, short-term financing bonds, Super & Short-term Commercial Paper (SCP) and asset-backed bills, as well as M88 app issue by enterprises of corporate bonds and asset-backed securities at exchange market.


JunHe’s clients in its onshore bond practice cover policy banks, commercial banks, state-owned enterprises under M88 app central government, local state-owned enterprises, listed companies and various private enterprises. M88 appse industry sectors include banking, energy, petrochemicals, building, infrastructure, real estate, internet, and investments. JunHe has participated in several onshore bond issue projects of milestone significance and is highly recognized in M88 app market.


JunHe can provide M88 app following major legal services in onshore bond projects:


  • Participate in M88 app discussion about M88 app project application and issue scheme;

  • Give legal advice and assist M88 app issuer to draft internal resolutions, as well as review M88 app relevant documents and agreements related to M88 app project;

  • Review M88 app project application documents for approval, registration or filing with M88 app regulatory authorities, and give legal advice and opinions;

  • Conduct legal due diligence investigation on M88 app issuer and its main domestic subsidiaries;

  • Issue legal opinions as required by M88 app Chinese laws and regulations and M88 app regulatory authorities, and assist in M88 app reply of questions from M88 app regulatory authorities;

  • Witness M88 app bond issue process, and issue legal opinions accordingly.

Recent Representative Cases

M88 app first deal of Tier-2 capital bond issued by A Commercial Bank – Tier-2 capital bond issued by Tianjin Binhai Rural Commercial Bank Corporation


In August 2013, Tianjin Binhai Rural Commercial Bank Corporation initiated an opening tendering through M88 app bond issue system of M88 app inter-bank bond market and successfully issued RMB 1.5 billion Tier-2 capital bonds with write-down feature. M88 app issue was M88 app first bank capital bond to meet M88 app qualifications for Tier-2 capital instruments issued in China since M88 app implementation of M88 app Commercial Bank Capital Management Measures (for Trial Implementation), which marks M88 app official introduction of M88 app innovation Tier-2 capital instrument in Chinese banks. JunHe, as M88 app legal advisor to M88 app underwriter, provided professional advice for M88 app product transaction mechanism, agreed to terms, transaction rules and oM88 appr aspects, and provided a standard model for M88 app issue of Tier-2 capital instruments in M88 app Chinese banking industry.


M88 app first deal of corporate bonds issued by a securities company – public offering of corporate bonds by China Merchants Securities


In March 2013, China Merchants Securities Co., Ltd. successfully issued RMB 10 billion corporate bonds through a public offering upon approval by M88 app China Securities Regulatory Commission (CSRC), and was listed for transaction at M88 app Shanghai Stock Exchange, which opened up a new way for financing by securities companies in M88 app capital market, and set M88 app standard for financing by securities companies in M88 app capital market. In absence of a market precedent, JunHe as M88 app legal advisor to M88 app issuer, along with oM88 appr various intermediary agencies, assisted China Merchants Securities to successfully complete M88 app first deal of corporate bond issuance by a securities company, with its professional legal knowledge and outstanding business awareness.


M88 app first deal of renewable corporate bond project – renewable corporate bond issue by Jinmao Shanghai


In June 2016, Jinmao Investment Management (Shanghai) Co., Ltd. completed an offering of M88 app 2016 renewable corporate bonds (Series I) upon approval of CSRC, and M88 app ultimate offering scale was RMB 2 billion, at an ultimate coupon rate of 3.70%. This was M88 app first real estate renewable corporate bond issue approved in China, which opened up a new way of financing at low cost in M88 app real estate industry. JunHe, as M88 app legal advisor to M88 app underwriter, participated in M88 app whole process of M88 app design of M88 app terms of this renewable corporate bond and provided strong professional support to M88 app issuer and M88 app lead underwriter.


M88 app first deal of issue of innovation and entrepreneurship convertible bonds by a non-listed enterprise – non-public offering of innovation and entrepreneurship convertible bonds by www.valueonline.cn


In December 2017, M88 app innovation and entrepreneurship convertible bonds issued bywww.valueonline.cnthrough non-public offering was listed on M88 app Shenzhen Stock Exchange, which became M88 app first deal of issue of M88 app innovation and entrepreneurship convertible bonds by a non-listed enterprise through a non-public offering. JunHe, as M88 app legal advisor of M88 app issuer, assisted M88 app enterprise in completing this in a highly efficient and timely manner. With its outstanding professional ability and innovative spirit, JunHe paved a new way, in that issuers of convertible bonds should be listed companies, and well satisfied M88 app financing needs of innovation and entrepreneurship.

Professional awards

China Business Law Journal: China Business Law Awards / China Business Law Deals of M88 app Year

  • 2024
    Law Firms of M88 app Year - Capital Markets (Domestic)
  • 2021
    Deals of M88 app Year - Shenzhen Government Issued Local Bonds to Hong Kong

IFLR Asia-Pacific Awards

  • 2023
    China Debt Firm of M88 app Year
  • 2022
    China Equity Capital Markets Firm of M88 app Year
  • 2021
    China Debt Capital Markets Firm of M88 app Year

China Law & Practice Awards

  • 2022
    Debt Securities Deal of M88 app Year - China Merchants Bank's Issuance of US0 million Dual-tranche Sustainability and Green Bonds

In-House Community

  • 2022
    A Capital Markets Law Firm of M88 app Year - China
M88 appB 中国区域市场法律大奖:华东地区 2024
JunHe is M88 app only Chinese law firm to be admitted as a member of and , two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through M88 appse connections, we provide high quality legal services to clients doing business throughout M88 app world.
As M88 app first carbon neutrality fund sponsored by a law firm in China, M88 app BAF Carbon Neutrality Special Fund was jointly established by JunHe and M88 app Beijing Afforestation Foundation (BAF) to promote carbon neutral initiatives, and encourage social collaboration based on M88 app public fundraising platform to mobilize engagement in public welfare campaigns.