BEIJING, Apr. 22, 2011 (Xinhua News Agency) -- China Securities Regulatory Commission (CSRC) is crafting a slew of methods to propel the expansion of listed firms' bond auctions, said Shanghai Securities News citing insiders on Friday.
According to the newspaper, CSRC may set up an independent ratification system to optimize the approval process and simplify the outside comments collection for listed corporations' bond sale.
Once the measure executed, China's listed companies can get feedbacks from the CSRC's relevant department within 10 working days and finish bonds offering in a month.
Besides, the newspaper said that listed corporations relating to the nine overcapacity industries need not get nods from National Development and Reform Commission before their bond floatation as long as the proceeds are not used in new investment projects.
Previously in October, 2010, CSRC required that the refinancing of listed companies from iron and steel, cement, plate glass, coal chemical, Polysilicon, wind power equipment, electrolysis alumina, shipbuilding and large forgings sectors needs the approval from NDRC. (Edited by Duan Jing, duanjing@xinhua.org)