On 28 July 2026, Shanghai Clearing House (SHCH) supported the Agricultural Development Bank of China (ADBC) in successfully issuing its first counter bond of 2026. The raised fund will be mainly channeled to lending in key areas including safeguarding national food security, advancing agricultural modernization, promoting integrated urban-rural development and fostering ecological civilization in rural regions.
The bond was initially offered in the interbank market with a size of RMB 5 billion, a maturity of 2 years and a coupon rate of 1.4618%. Following the initial pricing of the primary issuance, ADBC placed an additional RMB 1 billion to 10 authorized institutions for counter bond business, including Shanghai Pudong Development Bank, China Zheshang Bank, Bank of China, Industrial and Commercial Bank of China, China Construction Bank and China CITIC Bank. The authorized institutions offered the bonds concurrently to financial institutions, investment companies or investment management institutions, asset management products, and other investors excluding individuals and enterprises permitted by regulators including the People’s Bank of China.
On the same day, ADBC hosted the launching for its first 2026 counter bond. Representatives from two co-organizers, SHCH and SPDB, together with representatives from the China Foreign Exchange Trade System, Bank of China, China Zheshang Bank, Huaxing Bank, Jiangmen Rural Commercial Bank, Truvalue Asset Management Fund and other institutions attended the event. Participants held in-depth exchanges on ADBC bond issuance and the development of the counter bond business.
The bond represents the latest practice to implement the philosophy of inclusive finance and facilitate the development of the multi-tiered bond market. It also constitutes a key initiative by ADBC to further build a stable and diversified investor base by leveraging the full-maturity coverage strengths of the ADBC-SHCH bonds.
Going forward, SHCH will continuously strengthen cooperation with issuers, investors and other financial infrastructures. It will comprehensively push forward the improvement of product spectrum and optimization of investor structure, and jointly promote the high-quality development of the interbank bond market.
