NDRC shifts focus to guidelines

Updated: 2013-08-28 19:54

By Chen Jia (chinadaily.com.cn)

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The National Development and Reform Commission will delegate pre-qualification work for corporate bonds to provincial institutions as it focuses on policy guidelines and business training.

The top economic planner also tightened regulations covering corporation bond issuance.

A document from the NDRC clarified that the provincial management institutions should finish pre-approval for enterprises seeking to issue bonds within 15 working days, before handing the application to the top planner.

"The NDRC can flexibly control bond issuing within a reasonable scale, based on macroeconomic and the financial situation," it said.

The market requires the NDRC to simplify and quicken the approval of corporate bounds to support development of the real economy, analysts said.