China's issuance of enterprise bonds top 193b yuan

China had issued 193.03 billion yuan (about $27.28 billion) worth of enterprise bonds as of June 12, up 38.9 percent year-on-year, strengthening support to its real economy, country's top economic planner said on June 16.

Enterprise bonds approved or registered stood at 496.96 billion yuan as of June 12, up 38 percent year-on-year, said Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC) during a press conference.

China started to transform the enterprise bond issuance to a registration-based system from an approval-based one from March 1, according to the NDRC.

Meanwhile, the NDRC has set up "green channels" to process new bonds application from enterprises that are hit hard by the COVID-19 epidemic. Key enterprises of epidemic prevention and control would also be able to take advantage of these "green channels."

As of June 12, 76 enterprise bonds involving 94.57 billion yuan had been processed through the green channels, and 15 enterprise bonds, accounting for 17.12 billion yuan, from central China's Hubei had been approved or registered at a faster pace due to the innovative payment method and simplified procedures, Meng added.