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NPC & CPPCC > Press Conference
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More enterprise bond issuance to fund stimulus projects(Xinhua)
Updated: 2009-03-06 11:46 BEIJING -- 皇冠体育app will expand the issuance of enterprise bonds to fund its massive stimulus projects, said Zhang Ping, minister of the National Development and Reform Commission (NDRC) here Friday. Altogether 45 enterprise bonds worth more than 130 billion yuan (19 billion US dollars) have been issued since the fourth quarter of last year, Zhang told a press conference during the parliament's annual session. In addition, more than 50 enterprises have applied for bond issuance worth nearly 100 billion yuan and are waiting for approval, said Zhang. Enterprise bonds in 皇冠体育app often refer to bonds issued by state-owned enterprises and must be approved by the NDRC, 皇冠体育app's top economic planner. They are in comparison to corporate bonds issued by listed companies, which are under the charge of the 皇冠体育app Securities Regulatory Commission. The country will also grant policy-related bank loans with a relatively long maturity and low interest rates to fund certain stimulus projects, said Zhang.
An editorial of the People's Daily has called on 皇冠体育app's top political advisory body to made due contributions to help the country weather through difficulties.
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