Huaxia Bank issued tokenized bonds worth 4.5 billion yuan. All issuance data was recorded using distributed ledger technology (DLT), and transactions were settled exclusively with the central bank digital currency (CBDC).
Chinese commercial bank Huaxia Bank, whose shares are largely controlled by government entities, successfully issued financial bonds for its subsidiary, Huaxia Financial Leasing. The placement volume amounted to 4.5 billion yuan.
The issuance combined two key technologies:
- DLT ensured continuous, transparent, and immutable recording of issuance data.
- The digital yuan (e-CNY) enabled fundraising without intermediary settlement chains.
Market demand for the bonds was strong — with a three-year maturity, the coupon rate was set at 1.84%. Total bids reached nearly 200 billion yuan, resulting in a 4.41x oversubscription ratio. 35 institutional investors participated, setting a new coverage record for Huaxia Financial Leasing bond placements.
The funds raised are expected to support projects in green energy, high-tech manufacturing, and other core areas of the real economy.
The press release emphasizes that the successful issuance sets a new industry benchmark and opens the door for further adoption of digital technologies in the debt market.
In the future, Huaxia Bank plans to continue developing financial DLT solutions to improve funding efficiency for the real economy and expand the practical use of digital instruments. The bank notes that this transaction marks its first successful integration of a blockchain platform with the digital yuan infrastructure.
By the end of September 2025, total transaction volume using e-CNY reached 14.2 trillion yuan (~$2 trillion).
At the end of September 2025, Shanghai launched an international operational center for the digital yuan, established by China’s central bank to promote the national digital currency on the global stage.
