Chinese companies issuing bonds can no longer seek debt guarantees from local governments, or tell their investors that their bonds are backed by local governments, according to a new measures announced by China’s top State planning body. A notice detailing new rules for corporate bond issuance issued Monday by the National Development and Reform Commission stated: “It is strictly forbidden for reporting enterprises to require or accept the local government and its subordinate departments in various names to provide guarantee …

China Says No More Local Government Guarantees For Corporate Bonds appeared first on China Money Network.