People's Bank of China Notice [2005] No.30

Promulgated: December 13 2005

Main contents: Corporate bonds that meet requirements such as the following may enter the National Interbank Bond Market for trading, except for those where it is stipulated in their corporate bond offer procedures or prospectus that no trading shall take place: (1) public offering in accordance with the law; (2) actual issue size of not less than Rmb500 million; and (3) individual investors holding not more than 30% of the number of corporate bonds being issued in the same issue (Article 1). During the period of bond trading, issuers shall, prior to June 30 of each year, disclose their annual reports and follow-up credit rating reports for the preceding year (Article 4). National Interbank bond market makers shall offer two-way quotes for at least one corporate bond, and corporate bond underwriters shall actively develop two-way quotes for corporate bonds (Article 7).
Related legislation: PRC People's Bank of China Law (Revised), Dec 27 2003, CLP 2004 No.1 p.4