On January 6, China Merchants announced that it received the "Approval from the China Securities Regulatory Commission for China Merchants Securities Co., Ltd. to publicly issue short-term corporate bonds to professional investors," approving the company's application to publicly issue short-term corporate bonds to professional investors. The total face value of the short-term corporate bonds to be issued will not exceed 40 billion yuan. The approval is valid for 24 months from the date of approval, and the company can issue short-term corporate bonds in installments within the validity period of the registration.