General Office of the National Development and Reform Commission, Circular on Further Improving the Review of Enterprise Bond Offerings

国家发展改革委办公厅关于进一步改进企业债券发行审核工作的通知

July 16, 2013 | BY

CLP Temp &

NDRC streamlines enterprise bond offerings review.

Clp Reference: 3700/13.04.19 Promulgated: 2013-04-19

Issued: April 19 2013

Main contents: When reviewing the applications for enterprise bond offerings, the NDRC will categorise them into applications under:

(1) accelerated and simplified review, such as major state projects under construction or succeeding projects, state aircraft projects, strategic new industries, energy conservation and discharge reduction projects, comprehensive environmental cleanup projects and ecological protection projects;

(2) strict review, such as projects with surplus production capacity, or that create high pollution or consume a lot of energy as well as enterprises whose credit ratings are relatively low, debt ratios are high or operations are not compliant; and

(3) review that would appropriately control the scale and pace, namely all other types of applications.

clp reference:3700/13.04.19 issued:2013-04-19

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