CSG Issues RMB 5 Billion SCP

On January 11, CSG issued its 2016’s first RMB 5 billion yuan SCP (super & short-term commercial paper) of 180 days at an issuing interest rate of 2.52%, 1.83 percentage points lower than the benchmark interest rate for bank loans at the same period, a record low compared with similar products in the market, enabling CSG to save RMB 45.8 million interests in the duration.

At the end of 2015, CSG refined its capital management and took strict control over capital stock to guarantee the safety and stability of the capital chain by formulating daily plan on revenue and expenditure to balance CSG’s fund position. Furthermore, at the beginning of 2016, having analyzed in-depth the trend of interest rate in the monetary market, CSG seized the right opportunity when the interest rate of direct financing went down, succeeded in issuing its first SCP in 2016, and achieved favorable capital benefits.