New Guidelines for the Issuance of Corporate Bonds

October 02, 2007 | BY

clpstaff &clp articles

By Grant Chen and Zhengyi [email protected]; [email protected] companies, including those listed in Shanghai, Shenzhen, or…

By Grant Chen and Zhengyi Zhang

[email protected]; [email protected]

Listed companies, including those listed in Shanghai, Shenzhen, or overseas, are now allowed to issue corporate bonds on a trial basis, according to the Measures for Pilot Projects for the Offering of Corporate Bonds (New Rules), which were promulgated by the China Securities Regulatory Commission (CSRC) on August 14 2007. The Rules signal the official start of China's corporate bond issuance and are important in expanding enterprises' financing channels, providing a new outlet for excessive liquidity in the capital market, diversifying securities investment categories, and encouraging companies to improve management and performance.

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