June 28, 2018 / 5:46 AM / 19 days ago

China state planner considers ban on issuance of corporate short-term USD bonds: Bloomberg

BEIJING (Reuters) - China’s state planner is considering a ban on the issuance of USD-denominated corporate bonds with a tenor of less than one year, Bloomberg reported on Thursday citing sources.

A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/Files

This type of bond sale became popular among Chinese property developers late last year as they did not require pre-approval, Bloomberg added.

The National Development and Reform Commission is also restricting offshore bond issuance quotas for Chinese corporates, the report said.

Reporting by Beijing Monitoring Desk, Editing by Sherry Jacob-Phillips

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