Companies allowed to issue B&R bonds

China's securities regulator said on Friday that it will allow domestic and overseas companies to issue bonds in the onshore stock exchanges to finance projects related with the Belt and Road Initiative.

The Shanghai and Shenzhen stock exchanges will carry out the pilot B&R bond program. Government-backed institutions in economies participating in the B&R initiative can also sell bonds in China, according to the China Securities Regulatory Commission, or CSRC.

"The CSRC will continue to push the opening-up of the bond market at the country's stock exchanges, and facilitate international cooperation and financing under the B&R initiative," CSRC spokeswoman Gao Li said at a news conference in Beijing.