CHINA: SZSE Promulgates the Guidelines for Bond&nbsp

Monday February 22 2016

On 22^nd February 2016, Shenzhen Stock Exchange (SZSE) promulgated the Guidelines for Bonds so as to regulate the pre-approval, issuance and listing of corporate bonds, and improve the information disclosure quality and standardized operation level of issuers and intermediary organizations.

The Guidelines for Bonds have provided a detailed introduction into the related business processes, application requirements, application materials and format requirements for contents of information disclosure before listing/transfer of corporate bonds.

Guideline No.1 has raised the standardisation requirements for the handling procedures, application materials preparation, pre-approval, issuance and listing processes of public offerings of corporate bonds. Including in the guideline is the refining of the treatment arrangements for special circumstances in pre-approval, audit requirements in case of major assets restructuring, scope of verification opinions of intermediary organizations and time limit for submitting issuance and listing application.

Guideline No.2 has regulated the transfer eligibility confirmation, issuance, transfer and other related business processes of private placement of corporate bonds, application materials, requirements for preparation of information disclosure announcements and investor eligibility management business processes.

Additionally, SZSE has provided a Q&A relating to the Issuance and Listing/Transfer of Corporate Bonds which includes answers to common problems of market generality and policy tendency.

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