On March 24, Mr. Chen Zhi and his team assisted Liuyang Transportation Construction Investment Co., Ltd. (hereinafter referred to as "Liuyang TCI") in the issuance of 7-year RMB700 million special corporate bonds for urbanization at the Shanghai Stock Exchange.

Liuyang TCI, established in August 2009, is a wholly state-owned company funded by Liuyang Municipal People's Government. The major business of the company is to undertake the construction, operation and maintenance of transportation infrastructure projects in Liuyang City.

Tiandiren, as the legal counsel of Liuyang TCI, issued legal opinions, assisted the issuer and the underwriter in successfully completing the preparation work for this bond issue.

The legal team of this project includes Chen Zhi, Zhu Ya, Huang Simin, and other lawyers from Tiandiren.