June 28, 2018 / 5:46 AM / 9 months ago

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

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

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.

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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