NDRC Relaxes Ministry of Railways' Bond Issuance Quota
(Beijing) – The State Council has approved a National Development and Reform Commission (NDRC) proposal to expand the Ministry of Railway's bond issuance limitation for this year to no more than its net assets.
A source at the NDRC said the State Council, China's cabinet, approved the proposal.
Under the Securities Law, the ministry has previously issued bonds as a corporation and the total amount has not exceeded 40 percent of its net assets. However, the NDRC's proposal also allows it to act as a non-corporate entity, the source said.
- WeChat 'Glitch' Allows Family to Raise over 2 Million Yuan in 80 Minutes
- China's VAT Rebate Reform Aims to Boost Local Government Fiscal Strength
- Share Splits Raise Stock Market Suspicions
- China Faces Severe Coal Transport Capacity Shortage
- Audi Scraps Plans for New China Dealer Network
- Regions Found to Have 'Critical' Heavy Metal Emissions Now Clean Up Act
- Official PMI Spikes as Producer Prices Rise, Exports Surge
- China Adds 10% Consumption Tax for Superluxury Cars
- News Calendar, December 5-11
- Caixin's Manufacturing Indicator Dips to 50.9 in November
- Sign up to receive our free daily newsletter