The Bank successfully issued hybrid capital bonds.  Approved by China Banking Regulatory Commission and People’s Bank of China, the Bank was the first domestic bank to issue RMB 4 billion hybrid capital bonds with a 15-year term in national inter-bank bond market on September 27, 2006 in the way of bookkeeping and centralized placement. The hybrid capital bonds adopted two types of interest rate: RMB 3 billion at fixed interest rate with initial par interest rate of 4.94%, and RMB 1 billion at floating interest rate with initial par interest rate of 4.34%. The hybrid capital bonds were to be listed and traded on national inter-bank bond market after the issue.