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More options to be given to local SOEs in debt issuance

Updated: 2013-11-15 07:40
By Wei Tian in Shanghai ( China Daily)

China is widening financing channels for local State-owned enterprises in order to ease the growing debt burden on local governments, sources familiar with the matter say.

The measures include allowing more enterprises to issue short-term debt in the domestic market and to raise capital via so-called "dim sum bonds" in overseas renminbi markets.

A company with a sound record - with a credit rating of AA+ or above - will be allowed to sell short-term debt that matures in 270 days or less, Bloomberg reported, citing unidentified sources with the National Association of Financial Market Institutional Investors, which regulates the sales.

More options to be given to local SOEs in debt issuance

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