HONG KONG, 21 August 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Taixing Jinjiang Investment Co., Ltd. (“TXJJ” or “the company”); The Outlook is stable.
The Issuer Credit Rating reflects a high possibility that the Taizhou Municipal People’s Government (“the Taizhou government”) would provide strong support to TXJJ if needed. This mainly considers the Taizhou government’s indirect fully ownership of TXJJ, TXJJ’s strategic position as an important local investment and development company (“LIDC”) responsible for infrastructure construction, industrial parks development and operation in Taixing Economic Development Zone (“Taixing EDZ”). The linkage between the local government and TXJJ is strong, including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the local government may face significant negative impact on its reputation and financing activities should TXJJ encounter any operational or financial difficulties.
Taizhou is a prefecture-level city in Jiangsu Province. In 2024, Taizhou’s GDP grew steadily by 5.10% to RMB702.1 billion, while its budgetary revenue increased by 3.00% to RMB45.3 billion. Taixing EDZ was established in 1991 and is one of the first 13 provincial-level development zones in Jiangsu Province. Taixing EDZ is focusing on the development of a complete industrial system supported by fine chemicals, new materials, pharmaceuticals.
The Stable Outlook reflects our expectation that TXJJ’s strategic importance would remain intact while the local government will continue to ensure TXJJ’s stable operation.