Davis Polk advised the joint lead managers in connection with the Regulation S only offering by Gaoxin International Investment Co., Ltd. of its $100 million 6.00% guaranteed bonds due 2022 guaranteed by its holding company, Xuzhou Hi-Tech Industrial Development Zone State Asset Management Co., Ltd., who is wholly owned by the Xuzhou State-owned Assets Supervision and Administration Commission and managed by the Xuzhou Hi-Tech Industrial Development Zone Management Committee, a sub department under the Xuzhou municipal government.

Given its strategic role in developing the Xuzhou Hi-Tech Industrial Development Zone and the strong governmental support that nourished its growth, the issuer group has become one of the leading state owned enterprises in Jiangsu Province, which mainly operates three business segments, namely deputy construction, village renovation and capital lease.

The Davis Polk corporate team included partners Gerhard Radtke and Yang Chu, counsel Bingqing Pan, registered foreign lawyers Jennifer Liu, I. Danni Lin and Vera Xu and associate Esther Leung. All members of the Davis Polk team are based in the Hong Kong office.

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