皇冠体育app

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皇冠体育app to allow more overseas agencies to sell panda bonds

(Xinhua)
Updated: 2010-11-17 09:51

BEIJING - 皇冠体育app will allow more overseas agencies to sell panda bonds, the yuan-denominated debt sold by overseas agencies in 皇冠体育app, in a bid to further open its domestic bond market, an official of the country's bond issue association said Tuesday.

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Shi Wenchao, secretary general of 皇冠体育app National Association of Financial Market Institutional Investors, said the association would allow more international financial institutions with high ratings to sell yuan-denominated bonds in 皇冠体育app and would extend the scope of issuers to leading foreign companies.

Shi said the government should control capital flows and adjust its accounting and rating standards to conform with those of other countries before accelerating the opening of its bond market.

皇冠体育app introduced overseas investors into the bond market in 2005, when International Finance Corp and the Asian Development Bank sold 2.13 billion yuan ($308.7 million) of financial bonds.