China says to ease corporate bond issuance rules to boost economy

SHANGHAI (Reuters) – China’s top economic planner said on Wednesday that it would ease restrictions on corporate bond issues to encourage “high-quality” companies to issue more bonds to support the economy.

Companies can now raise as much as 70 percent of a project’s funding need, the National Development and Reform Commission (NDRC) said in a statement published on its website www.ndrc.gov.cn.

Previously, the limit for most projects was 60 percent.

(This version of the story was refiled to correct the spelling of “development” in paragraph 2.)

(Reporting by Lu Jianxin and Kazunori Takada)

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