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SDB Issues Bonds to Support Key Projects
China's State Development Bank (SDB) will issue 185 billion yuan in bonds this year to support the construction of key projects in China, such as transporting electricity and gas from the west to the east.
The bank will also carry on trials to make its bonds traded on the capital market and improve the liquidity of the policy- oriented financial bonds.
Chen Yuan, governor of the bank, was quoted by Friday's China Securities as saying that his bank will try to design new bond varieties and develop new channels of issuance according to the demand of the investors.
Under the approvement of related departments, Chen said, the bank will further expand the scope of entitled investors and traders for its financial bonds.
According to Chen, with the expansion of the Interbank market, all the State-owned commercial banks, insurance companies and city commercial banks will be entitled to directly buy bonds issued by the bank.
Securities companies and branches of foreign banks with Renminbi business will be given rights to trade and to hold bonds through the second market.
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