Chinese Vice Premier Han Zheng (centre), a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, chairing a meeting at the National Development and Reform Commission (NDRC) on October 19, 2021. Photo: Xinhua
Chinese Vice Premier Han Zheng (centre), a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, chairing a meeting at the National Development and Reform Commission (NDRC) on October 19, 2021. Photo: Xinhua

China’s offshore bonds watchdog promises easier funds transfer for developers to pay their debt after giving them a tongue lashing

  • The NDRC said it would smooth the way to meet borrowers’ ‘reasonable needs’ in debt swaps, registering dollar bonds and remitting foreign currencies to pay their coupons and interests
  • The NDRC also subjected the debtors to a tongue-lashing. Borrowers must ‘optimise their foreign debt structure,’ abide by ‘financial discipline and market regulations’ and ‘strictly use the funds raised in accordance with their stated purposes,’ the NDRC said

Topic |   China property
Chinese Vice Premier Han Zheng (centre), a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, chairing a meeting at the National Development and Reform Commission (NDRC) on October 19, 2021. Photo: Xinhua
Chinese Vice Premier Han Zheng (centre), a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, chairing a meeting at the National Development and Reform Commission (NDRC) on October 19, 2021. Photo: Xinhua
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