On 1 June 2022, Beijing Capital City Development Group Co. Ltd. (“Capital Development”) successfully issued to professional investors the corporate bonds (Phase I of 2022) with an offering size of RMB 2.373 billion. Grandall Beijing Office has been retained as the legal counsel for the issuance with FENG Xiaoyi, ZHOU Liqiong, WANG Yanping, LV Yutong, CHENG Yifan and WANG Yueyao as key lawyers serving the case.

The company, as founded on 10 June 2021 with a registered capital of RMB 29,881,960,160, is a large industrial group focusing on urban development business. It was established by Capital Group, a mega state-owned enterprise under Beijing State-owned Assets Supervision and Administration Commission, through integrating its two former real estate and infrastructure sectors.