Aerial photo taken on May 18, 2020 shows a view of Xihu Park in Fuzhou, southeast China's Fujian Province. (Xinhua/Jiang Kehong)
BEIJING, July 14 (Xinhua) -- China's Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) unveiled on Tuesday amended issuance and listing review rules for certain corporate bond products, effective as from July 13, to better support the real economy, reported Xinhua-run Xinhua Finance.
SSE has included carbon neutrality corporate bond, blue bond, and rural revitalization corporate bond in the revised review rules for issuance and listing of certain types of corporate bonds.
SSE provides that the certain types of corporate bonds include short-term corporate bond, extendable corporate bonds, green corporate bonds, rural revitalization corporate bonds, innovation and startup corporate bonds and bailout corporate bonds.
SZSE made amendment to its guiding rules for green corporate bonds and changed the past rules for poverty alleviation bonds to rules for rural revitalization corporate bond.
To improve review efficiency, SSE vowed to set up special mechanism to cope with issuance and listing review of certain corporate bond products that are in line with requirements of China's macro adjustment policies and industrial development encouraging policies.
According to SSE, review upon reporting to the exchange is applicable to the issuance and listing reporting of the above-mentioned certain corporate bond products.
Issuance and listing of the certain corporate bond products can also be reported to SSE together with other ordinary corporate bonds, but the former ones are required to provide the amount of funds to be raised and the usage of the proceeds in reporting.
Apart from these, SSE also required in its amended rules issuers of carbon neutrality project bonds to strengthen environment benefits related information disclosure.
In the principle of being computable, checkable and verifiable, the environment benefits related indicators to be disclosed by issuers of carbon neutrality project bonds are required to cover the computing methods and references and quantitative measurement of their projects' environment benefits such as energy savings calculated in coal equivalents and reduction of carbon emissions.
Bond issuers for carbon neutrality projects are also encouraged to disclose environment benefits appraisal and certification reports provided by independent third party institutions in their regular reports for carbon neutrality bonds or when they complete their projects' feasibility study, obtain construction permits, and start construction of their carbon neutrality projects.
What's more, green corporate bond issuers are called on to set up innovative clauses pegged to their completion of environment benefits objectives related to carbon emission reduction and others. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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