On March 8, 2016, JIC Leasing started its second ultra-short-term bond issue (of this year) to raise RMB 400 million with a 3.1% rate, i.e. 125 basis points below the benchmark lending rate, demonstrating an edge in cost competitiveness over its peers within the industry.

Since its start, JIC Leasing has been actively exploring the bond market. As of the date of this issue, the company has issued RMB 800 million ultra-short-term bills, RMB 800 million short-term bills and RMB 900 million medium-term bills. Looking ahead, as China’s bond market continues to grow; JIC Leasing will seize the opportunities in interest rate spread to bolster its cost advantages as well as the cash power for business growth.