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First bonds issued under new securities law

Global bond losses could be the worst since 1949, BofA warned on Friday.
Foreign investors have sold yuan-denominated bonds aggressively in recent months. File image: AF.

(ATF)  – Three companies issued bonds on March 2, the first working day in which China’s new Securities Law was formally implemented.

The companies – Shenzhen Yiyattong Supply Chain, Overseas Chinese Town Group and Lanfan Medical – issued bonds totalling about 21.7 billion yuan (US$3.1 billion).

The lead underwriters were CITIC Construction Investment, Industrial Securities and CITIC Securities, Shanghai Securities News reported. 

The first company to get the honor of being the first to issue bonds under the new law was China Coal Energy, which issued corporate bonds worth 10 billion yuan, Xinhua reported.

Chris Gill

With over 30 years reporting on China, Gill offers a daily digest of what is happening in the PRC.


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