Related News
Short-term corporate bond next
By Zhang Fengming |
December 23, 2010, Thursday
|
Print Edition
Print Edition
CHINA will introduce "super and short-term commercial paper" as it steps up innovation in its evolving debt market to expand financing channels.
China National Petroleum Corp, Sinopec Corp and the Ministry of Railways will issue a combined 210 billion yuan (US$32 billion) in the new debt, the National Association of Financial Market Institutional Investors said yesterday. The debt is short-term corporate bill of 270 days or less.
China has said it will simplify approval procedures for corporate bond issuance and encourage innovation as it seeks to cut corporate dependence on banks for capital. Banks in China are set to surpass the government's loan target of 7.5 trillion yuan this year as they have already extended 7.4 trillion yuan in the first 11 months of 2010.
Under China's complicated corporate debt system, the PBOC only has the right to manage new corporate-related debt in the interbank market, such as already traded short-term bills of up to one year and medium-term bills of mainly three and five years.
The China Securities Regulatory Commission is in charge of supervising debt issuance by listed companies, while the top economic planner, the National Development and Reform Commission, monitors non-listed firms.
China National Petroleum Corp, Sinopec Corp and the Ministry of Railways will issue a combined 210 billion yuan (US$32 billion) in the new debt, the National Association of Financial Market Institutional Investors said yesterday. The debt is short-term corporate bill of 270 days or less.
China has said it will simplify approval procedures for corporate bond issuance and encourage innovation as it seeks to cut corporate dependence on banks for capital. Banks in China are set to surpass the government's loan target of 7.5 trillion yuan this year as they have already extended 7.4 trillion yuan in the first 11 months of 2010.
Under China's complicated corporate debt system, the PBOC only has the right to manage new corporate-related debt in the interbank market, such as already traded short-term bills of up to one year and medium-term bills of mainly three and five years.
The China Securities Regulatory Commission is in charge of supervising debt issuance by listed companies, while the top economic planner, the National Development and Reform Commission, monitors non-listed firms.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
