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

(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.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
Sign up to receive our free daily newsletter