China’s interbank self-regulatory body held meeting with private companies, vowed to expand bond financing by private firms
POLICY & REGULATION
China’s interbank self-regulatory body held meeting with private companies, vowed to expand bond financing by private firms
POLICY & REGULATION

China’s interbank self-regulatory body held meeting with private companies, vowed to expand bond financing by private firms

 

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The National Association of Financial Market Institutional Investors (NAFMII), a self-regulatory body of China’s interbank market, on Thursday held a symposium with private companies on expanding private companies bond financing and promoting their’ healthy and sustained development, according to a statement released by the NAFMII.

China in 2018 launched a debt financing tools, dubbed “the second arrow” and supported by the PBOC’s refinancing, and the scheme was original aimed at supporting about 250 billion yuan ($34.47 billion) of bond financing by private firms and the scheme was expanded late 2022. 

Twelve private companies including New Hope Group, Seazen Holdings, Country Garden, Hongdou Group, TCL Group and Sany Heavy Industry attended the symposium on Thursday. 

The private sector is an important part of China’s economy, a major driving force for the economic growth and a key player in promoting innovation, the association said.

In the next step , the NAFMII will push forward implementation of “the second arrow”, providing continuous support to bond financing by private companies, including private property developers to help the private economy’s healthy and high-quality development, it said.