NDRC starts crackdown on debt issuance

The nation's top economic regulator this week further tightened regulation for debt issuance as regulatory authorities pledged to prevent further accumulation of hidden debt by local governments.

Firms planning to issue debts should accurately disclose information and support investors identifying risks, and they are not allowed to receive implicit support in any form from local governments, according to a guideline issued on Monday by the National Development and Reform Commission.

The guideline said companies should draw a clear distinction between their own credit and that of local government.