China Employment Law Network
Shanghai Business Lawyer
Legal Updates
Notice of the National Development and Reform Commission on Issues Concerning the Issuance of RMB-denominated Bonds by Mainland Non-financial Institutions in the Hong Kong Special Administrative Regio
released by:admin Time:2012-6-26 10:58:08 Read:2885Time

Promulgating Institution:   National Development and Reform Commission
Document Number:           Fa Gai Wai Zi [2012] No.1162
Promulgating Date:            05/02/2012
A mainland non-financial institution shall satisfy the following before issuing RMB-denominated bonds in the HKSAR: have a sound corporate governance; good credit standing and profitability; mainly use funds raised by bonds for fixed-asset investment projects; comply with policies of national macro-regulation, industry and utilization of foreign, overseas, and administrative provisions on fixed-asset investment, and go through required procedures; no enterprise bonds already issued or any debts in default or delay; and it has committed no grave violation of laws and regulations in the past three years.

An application for RMB-denominated bonds shall include amount, terms and purpose and all relevant financial and legal reports and opinion. NDRC shall approve or disapprove within 60 days of accepting application. 

Print | Close | Back
copyright@Shanghai Barry Law Firm
Add:Suite 701 Huanan Mansion, No.1988 Dongfang Road, Shanghai 200125 Tel:(86)13917214000 :(86-21)58819909,