New measures to lower bond default risks

The nation's top economic regulator is strengthening assessments of possible corporate bond defaults at local levels to keep risks from threatening the financial system, with further efforts expected such as sending inspection teams and building a supervisory system.

The National Development and Reform Commission, responsible for approving the issuance of corporate bonds, is collecting reports on likely default risks from local authorities, NDRC spokesman Yan Pengcheng said on Monday.

Local governments must report possible default risks, submitting key information such as whether bond issuers and underwriters have made mandatory disclosures.