HONG KONG, 13 March 2026 – 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 Jiande State-owned Assets Investment Holding Group Co., Ltd. (“JSAI” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Jiande City (“Jiande government”) would provide very strong support to JSAI if needed, in light of its indirect full ownership of JSAI, JSAI’s strategic importance as the most important local investment and development company (“LIDC”) for infrastructure construction and state-owned asset operation in Jiande and the linkage between the Jiande government and JSAI, including appointment of the senior management, strategic alignment, supervision of major investment and financing decisions and ongoing operational and financial support. In addition, we believe the Jiande government has a very strong willingness to ensure JSAI’s business and financial viability in order to safeguard its reputation and local financing activities.
Jiande is a county-level city located in Zhejiang Province and managed by Hangzhou City. Jiande’s GDP grew by 5.3% to RMB46.0 billion in 2024, while its budgetary revenue reached RMB4.6 billion during the same period. For the first half of 2025, Jiande’s GDP increased by 5% to RMB22.8 billion, while its budgetary revenue increased by 1.1% to RMB2.7 billion.
The Stable Outlook reflects our expectation that JSAI’s strategic importance would remain intact while the Jiande government will continue to ensure JSAI’s stable operation