In April 2019, China Railway Construction Investment Group Co., Ltd. (the "China Railway Construction Investment Group") publicly issued corporate bonds of 2019 (phase-1 issuance). The basic issuance scale was 1 billion yuan, compared to the actual subscription of 1.2 billion yuan, with a maturity term of five years. The credit rating of the issuance is AAA, the corporate credit rating of the issuer AAA, and the coupon rate 3.98%.

China Railway Construction Investment Group was established in Beijing in May 2011 with registered capital of 12 billion yuan, and is a wholly-owned subsidiary of China Railway Construction Corporation Limited, a state-holding enterprise. The latter is one of the best and largest comprehensive construction groups in China and even in the world. It ranked 58^th in Fortune's World Top 500 Enterprises in 2018 and 9th in Top 500 Chinese Enterprises in 2017, and has remained among top three in the world's 250 largest engineering contractors voted by the Engineering News-Record (ENR) magazine of the United States.   

As the legal counsel of China Railway Construction Investment Group, the DeHeng team, led by Partners Hou Zhiwei and Zhang Yan, with primary support from attorneys Zuo Ti and Liang Hanxiong, worked closely and actively with the issuer, the underwriters and rating agencies, and provided professional, comprehensive and efficient legal services for the issuance.