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Corporate bond approval process to be simplified

2013-02-22 07:57     Web Editor: qindexing comment

The China Securities Regulatory Commission may simplify the verification and approval process of corporate bond public offerings, based on a recent circular on corporate bond issuance management, China Securities Journal reported on Feb 21.

Analysts said the sponsor system and examination and verification system for corporate bond issuance, which has been in place for years, will be lifted in the near future, a fact that will significantly enhance the efficiency of corporate bond issuance.

The CSRC launched amendments of rules for corporate bond issuance management in 2012, as capital markets has seen significant developments in the previous years. While conditions for the public offering of corporate bonds remain unchanged, the verification and examination process of bond issuance will be simplified significantly, according to the CSRC circular.

Analysts said the changes to the verification and examination process of corporate bond issuance will comply with the Securities Law, and may come into effect as soon as March.

China introduced its first pilot program for corporate bond issuance in 2007.

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