BEIJING, Sept. 17 (Xinhua) -- China's top economic planner will deepen registration-based issuance reform for enterprise bonds to better serve the real economy, reported Xinhua Finance, a financial information platform run by Xinhua News Agency on Wednesday.
The report cited Meng Wei, spokesperson of the National Development and Reform Commission (NDRC) as saying on Wednesday, highlighting that the top economic planner will reinforce information disclosure and in-process and ex-post supervision for enterprise bonds issuance.
In the future, NDRC will continue to optimize regulatory and supervisory rules to work on establishing an open, transparent and highly efficient registration-based issuance administration system for enterprise bonds.
Interdepartmental coordination and communication will be enhanced to advance joint formulation of enterprise bond issuance information disclosure guidelines by related Chinese regulators to further optimize the basic rules of China's bond market.
Previously in March, NDRC and China's securities regulator announced to implement a registration-based system for the public issuance of enterprise and corporate bonds as from March 1.
Year to date, China's enterprise bonds, referring to bonds issued by institutions under the central government and state-owned or controlled enterprises as well, recorded merely 8.14 billion yuan of defaulted ones, accounting for 0.2 percent of total outstanding enterprise bonds, according to Meng.
The default ratio of enterprise bonds was the lowest among all corporate debenture bonds and generally speaking, risk control of China's enterprise bonds remained very gratifying, Meng said. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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