Recently, Yandongfang Industrial Investment Group officially obtained a dual AAA long-term issuer credit rating from Anrong and Zhongbeilian, drawing significant attention in the capital markets. This development increases the number of AAA-rated state-owned enterprises in Yancheng to seven, placing the city firmly in the top tier among prefecture-level cities in Northern Jiangsu, second only to Xuzhou. The AAA rating is considered the highest honor in China's credit rating system, equivalent to a top-level seal on a company's "credit identity card" in the capital markets. Achieving this rating not only broadens financing channels for future bond issuances but also substantially reduces financing costs. Public information shows that Yandongfang Group was established in 2003, originally known as Jiangsu Dongjin Holding Co., Ltd. In 2019, its major shareholder changed to the Yancheng Municipal Government, transitioning it to a "municipally-owned, district-managed" entity. By the end of 2025, the group's total assets exceeded 100 billion yuan, reaching approximately 110 billion yuan, entering the ranks of "state-owned enterprises with assets over 100 billion yuan." According to Wind data, with the addition of Yandongfang Industrial Investment Group, Yancheng's lineup of AAA-rated state-owned enterprises has expanded to seven. These include Yancheng City Asset Investment Group, Yancheng Transportation Investment and Construction Holding Group, Jiangsu Yueda Group, Yancheng High-Tech Industrial Holding Group, Jiangsu Yinbao Holding Group, Jiangsu Huanghai Financial Holding Group, and Yandongfang Industrial Investment Group. Additionally, industrial and commercial registration information indicates that Yandongfang Group's subsidiary, Yancheng Dongfang Investment Development Group, is a municipal urban investment platform with an AA+ credit rating. According to Wind's urban investment watchlist statistics, Yancheng currently has 71 state-owned enterprises under monitoring. The seven AAA-rated enterprises account for 9.7% of the total, with four belonging to the urban investment category and three classified as industrial or financial state-owned enterprises. Furthermore, Wind data also shows that, as of now, Yancheng has 20 AA+ rated and 40 AA rated state-owned enterprises.