In 2020, CITIC Securities was one of the first became one of the first to join the "Capital Market Poverty Alleviation Charity Alliance". We gave full play to our advantages of a wide range of business categories and outstanding comprehensive capabilities to provide systematic and multi-channel financial services and industrial support to poor areas. We also followed the "Green Channel" policy of the China Securities Regulatory Commission to provide financing services for poor areas.
The Company participated in multiple agricultural credit asset securitization programs initiated by the China Foundation for Poverty Alleviation (CFPA to leverage the functions of the bond market to support agricultural development. We successively completed the No.1, No.2, No.3 and No.4 special asset-backed plans of CD Finance public petty loans, raising a total of RMB 2,001 million.
Based on our own investment platform, the Company, together with other investors, invested a total of RMB 108 million to help with the technological upgrading, capacity improvement and regulated governance of Jiangxi Huichang Shi Lei Group, so as to support the local characteristic fluoride salt chemical industry.
Recognizing the global leadership of Trina Solar (an investment banking client of the Company) in the photovoltaic module industry, we introduced Trina Solar to the projects of poverty alleviation photovoltaic power plant construction in Huichang County, Jiangxi Province (a poverty-stricken County paired up with the Company under the national poverty alleviation program) and Xi County, Shanxi Province (a poverty-stricken County paired up with the Securities Association of China (“SAC”)). The revenue from the grid-connected photovoltaic systems has become a stable source of income for officially registered poverty-stricken households and village collectives.
By cooperating with the local poverty alleviation offices, CITIC Securities also adopted an innovative poverty alleviation model of "insurance + futures" to gradually lift the officially registered poverty-stricken households out of poverty. In 2020, the Company participated in the OTC rubber options poverty alleviation program of Shanghai Futures Exchange (“SHFE”) in Baisha and Qiongzhong counties in Hainan, and received a capital support of RMB 1.584 million from SHFE.
Branches of CITIC Futures cooperated with County and township governments and agricultural cooperatives to explore potential business opportunities and establish resource supply relationships, so as to serve "agriculture, rural areas and farmers" and help farmers disperse and transfer the agricultural product price risk. In 2020, CITIC Futures launched a series of OTC corn/dates/egg/apple options and "insurance + futures” poverty alleviation programs in poverty-stricken areas such as Huanan and Fujin Counties in Heilongjiang, Tongwei, Tianshui and Li Counties in Gansu, Leye County in Guangxi, Maigaiti in Xinjiang and Yanchang County in Shaanxi, investing a total of RMB 3.0821 million with own funds. In February 2020, CITIC Futures carried out targeted poverty alleviation activities in Pingxiang city in Jiangxi, and invested a total of RMB 300,000 to support projects such as tea-oil tree planting and processing, poverty alleviation workshop construction, tea planting and processing, renovation and upgrading of nursing homes, etc. in Kengkou Village, Zhangjiafang Town, Luxi County, Jiangbei Village, Hushang Town, Lianhua County, Nanling Village, Wanlongshan Town, Wugongshan District and Shenquan Town, Lianhua County.
CITIC Securities South China actively participated in financial poverty alleviation. It underwrote a special poverty alleviation bond (Phase I and II) non-publicly issued by Guangxi Liuzhou Construction Investment Development Co., Ltd. in 2020, raising a total of RMB 1.52 billion. In May 2020, CITIC Securities South China underwrote the Special Poverty Alleviation Corporate Bond (Affordable Housing) (Phase I) non-publicly issued by Guizhou Huazhushan Real Estate Co., Ltd. for supporting affordable housing in 2020, raising a total of RMB 500 million.