New Rules on Short-term Finance Bill

People's Bank of China
Order of the People's Bank of China No. 2 [2005]
24 May 2005

It is allowed that eligible enterprises can issue short-term finance bills to qualified institutional investors in the inter bank bond market. This includes:

People's Bank of China is the institution to monitor the issuance and trading transactions of the finance bills. The Bank is also responsible for related registration and filing;

The target investors of the finance bills are institutional investors in inter bank bond market but not general public;

The issuer should employ a certified accountant and lawyer to perform the credit rating; and

The issuer should stipulate the area of information disclosure.

中國人民銀行
中國人民銀行令〔2005〕第 2 號
2005年5月24日

符合條件的企業在銀行間債券市場向合格機構投資者發行短期融資券的行?是被允許的。此項規定主要包括下面四個方面：

明確融資券發行和交易進行監督管理以及進行備案的機構是中國人民銀行；

明確融資券的發行物件是銀行間債券市場機構投資人，不是社會公?；

規定發行人應通過聘請註冊會計師進行審計和聘請律師出具法律意見書等方式進行信用評級；

就發行人的資訊披露規範作了明確規定。