Tianfeng Securities Leads Rural Revitalization and Belt and Road Bond Underwriting in H1 2026

The China Securities Association has published its special statistical report on bond (including corporate bond) underwriting business of securities companies for the first half of 2026. The data show that Tianfeng Securities ranked first in the industry in the number of lead underwriting mandates for rural revitalization bonds and Belt and Road bonds, while its lead underwriting amount for Belt and Road bonds also tied for first in the industry. These bonds serve as important instruments through which capital markets support national strategies and the real economy.

In the first half of 2026, 54 securities firms across the industry participated in the underwriting management of rural revitalization bonds, and 13 firms participated in the lead underwriting of Belt and Road bonds. Tianfeng Securities ranked first in the industry in three core indicators: the number of rural revitalization bond lead underwriting mandates, the number of Belt and Road bond lead underwriting mandates, and the related underwriting amount.

Since the Shanghai Stock Exchange issued guidelines for rural revitalization corporate bonds in 2021, and through August 2026, Tianfeng Securities has cumulatively issued more than 20 rural revitalization bonds, with a total issuance scale approaching RMB 10 billion. Through a full-chain service system covering project identification, solution design, application advancement, bookbuilding and distribution, and ongoing bond management, the company connects financing needs of local governments and real economy entities, channeling long-term low-cost funds into county-level economies.

In rural revitalization bond business, the company identifies financing projects centered on rural industry upgrading and urban-rural infrastructure construction, using bond instruments to guide social capital into agriculture, rural areas and farmers. In the Belt and Road bond segment, the company focuses on the financing needs of industrial entities related to opening-up and international cooperation, serving domestic enterprises participating in the construction of Belt and Road cooperation projects.

The company said it will continue to deepen its core investment banking business, expand its pipeline of specialized bond projects encompassing rural revitalization, Belt and Road, and green and low-carbon initiatives, and innovate financing models to channel more financial resources into key national strategic priorities.