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China Zheshang Bank to raise up to 30B yuan in bonds

China Zheshang Bank Co. Ltd. plans to raise up to 30 billion yuan in financial bonds.

The bank plans to use the proceeds from the issue to optimize its debt structure and for granting loans to small and micro enterprises to support green industrial projects.

The proposed issue is subject to the approval of the China Banking and Insurance Regulatory Commission and other authorities.

As of March 18, US$1 was equivalent to 6.71 Chinese yuan.