completedan issuance of 4 billion yuan of corporates bonds.

The companysaid July 26 that it issued 1 billion yuan of Type 1 bonds, which were pricedwith a coupon of 2.92% per year, as well as 3 billion yuan of Type 2 bonds,which were priced with a coupon of 3.24% per year. The issuancewas completed July 25.

Theissuance is the company's first tranche of bonds under its to issue up to 12.8 billion yuan ofcorporate bonds.

As of July 25, US$1 was equivalent to 6.68Chinese yuan.