China sees rise in enterprise bond issues in 2006
In it's 2006 draft plan for economic and social development presented to China's parliament,
BEIJING (AFX) - China will seek to expand corporate bond issues as it reduces offers of government debt this year, the National Development and Reform Commission said.
In it's 2006 draft plan for economic and social development presented to China's parliament, the commission said it plans to issue 60 bln yuan in long-term treasury debt this year, 20 bln less than last year.
However, the planning agency said it will promote the issuance of corporate debt and the overall development of the bond market.
'We will develop direct financing and increase the issuance of enterprise bonds,' it said without giving any targets.
The agency added that it will continue to deregulate interest rates and make them more subject to market forces.
The powerful commission, which is a key economic planning body, sets the level of government debt and controls corporate issues through a quota system.
(1 usd = 8.05 yuan)
In it's 2006 draft plan for economic and social development presented to China's parliament, the commission said it plans to issue 60 bln yuan in long-term treasury debt this year, 20 bln less than last year.
However, the planning agency said it will promote the issuance of corporate debt and the overall development of the bond market.
'We will develop direct financing and increase the issuance of enterprise bonds,' it said without giving any targets.
The agency added that it will continue to deregulate interest rates and make them more subject to market forces.
The powerful commission, which is a key economic planning body, sets the level of government debt and controls corporate issues through a quota system.
(1 usd = 8.05 yuan)
