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China to issue more enterprise bonds

By Jiang Wei (chinadaily.com.cn)
Updated: 2009-03-06 12:35

China will expand the issuance of enterprise bonds to fund its massive stimulus package, said the country's top planner.

Zhang Ping, minister of the National Development and Reform Commission (NDRC), made the remarks at a press conference during the ongoing session of the 11th National People's Congress (NPC).

Since the fourth quarter of last year, 45 enterprise bonds have been issued raising more than 130 billion yuan, he said. Another over 50 enterprises have applied for bond issuance worth nearly 100 billion yuan and are waiting for approval.

Zhang said the money will be used to finance projects in the country's stimulus package with an expected investment of 4 trillion yuan.