Recently, U.S.$ 300,000,000 4.625per cent. guaranteed bonds due 2021 was issued by Lingang Wings Inc,Shanghai Lingang Economic Development (Group) Co. Ltd. (hereinafter referred to as Lingang Group)'s overseas subsidiary.

Lingang Group, the only sate-owned enterprise of SASAC with the main business of investment, development and management of industrial parks, plays an important role in the management of Shanghai's economy and industry. This project is Lingang Group's first issuance of U.S. dollar bonds, and it was highly recognized by international investors.

As the PRC counsel for the Joint Lead Managers (Guotai Junan Securities (Hong Kong) Limited、Goldman Sachs (Asia) L.L.C.、BOSC International Company Limited、Industrial and Commercial Bank of China (Asia) Limited、Haitong International Securities Company Limited、Cathay United Bank Co., Ltd.、Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch), Llinks Law Offices provided PRC legal services for this project including conducting legal due diligence and providing legal opinions.