HONG KONG, 13 December 2018 — China Lianhe Credit Rating Co., Ltd. (“China Lianhe”), Lianhe Ratings Global Limited (“Lianhe Global”) and Guotai Junan International Holdings Limited (Stock Code: 1788.HK) jointly held a sharing session on “How to Interpret China’s Local Government Financing Vehicle (“LGFV”) Industry” on 10 December 2018, in Hong Kong. At the conference, the presenters presented and discussed the key issues of the industry with bond investors and strengthened the interaction with them for their better understanding of Lianhe’s onshore and offshore LGFV rating approaches and LGFV credit profiles. The conference was attended by nearly 40 investors, and around 100 investors dialed in. An in-depth discussion on two major topics: “Local Government Financing Vehicles’ Credit Risk Outlook and Analysis Framework” and “Lianhe Global’s Local Government Financing Vehicle Rating Criteria and Case Study” was conducted during the conference.