Caixin OnlineFinance & EconomicsTop Stories Finance NDRC Relaxes Ministry of Railways' Bond Issuance Quota
05.29.2012 18:13

NDRC Relaxes Ministry of Railways' Bond Issuance Quota

State Council approves plan to help the increasingly cash-strapped rail agency
By staff reporter Yang Na
 
A

(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.

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