Notice of the General Office of the National Development and Reform Commission and the General Office of the Ministry of Finance on Further Strengthening the Corporate Bonds' Capacity of Serving the Real Economy and Strictly Preventing Local Debt Risks

Notice of the General Office of the National Development and Reform Commission and the General Office of the Ministry of Finance on Further Strengthening the Corporate Bonds' Capacity of Serving the Real Economy and Strictly Preventing Local Debt Risks [Effective]

国家发展改革委办公厅、财政部办公厅关于进一步增强企业债券服务实体经济能力严格防范地方债务风险的通知 [现行有效]

【法宝引证码】

Issuing authority： Instrumentalities of the State Council,All Commissions,State Development & Reform Commission,All Ministries,Ministry of Finance
Document Number： No. 194 [2018] of the General Office of the National Development and Reform Commission
Date issued： 02-08-2018
Effective date: 02-08-2018
Level of Authority: Departmental Regulatory Documents
Area of Law:Securities


Notice of the General Office of the National Development and Reform Commission and the General Office of the Ministry of Finance on Further Strengthening the Corporate Bonds' Capacity of Serving the Real Economy and Strictly Preventing Local Debt Risks		国家发展改革委办公厅、财政部办公厅关于进一步增强企业债券服务实体经济能力严格防范地方债务风险的通知
(No. 194 [2018] of the General Office of the National Development and Reform Commission)		（发改办财金〔2018〕194号）
The development and reform commissions and public finance departments (bureaus) of all provinces, autonomous regions, municipalities directly under the Central Government and cities under separate state planning, and the Development and Reform Commission and the Financial Bureau of Xinjiang Production and Construction Corps:		各省、自治区、直辖市及计划单列市、新疆生产建设兵团发展改革委、财政厅（局）：
For purposes of thoroughly implementing the spirit of the 19th CPC National Congress, the Central Economic Work Conference and the National Financial Work Conference, further maximizing the direct financing functions of corporate bonds, enhancing the capacity of finance for serving the real economy, resolutely preventing and eliminating major risks, strictly preventing local debt risks, and resolutely containing increase in implicit local government debts, you are hereby notified of the following matters on the work of corporate bonds.		为深入贯彻落实党的十九大、中央经济工作会议和全国金融工作会议精神，进一步发挥企业债券直接融资功能，增强金融服务实体经济能力，坚决打好防范化解重大风险攻坚战，严格防范地方债务风险，坚决遏制地方政府隐性债务增量，现就企业债券工作有关事项通知如下。
I. An applicant enterprise shall establish and improve a regulated corporate governance structure, management decision-making mechanism and financial management system, and public functionaries of the Party or government offices are prohibited from taking part-time jobs (taking office) in the enterprise without approval. The assets owned by an applicant enterprise shall be good in quality and clear in ownership; and public schools, public hospitals, public cultural facilities, parks, public squares, office buildings of state organs and public institutions, public roads, non-toll bridges, non-operating water conservancy facilities, non-toll pipeline network facilities and other public assets and right to use the reserve land shall be prohibited from being included in the assets of the applicant enterprise.		一、申报企业应当建立健全规范的公司治理结构、管理决策机制和财务管理制度，严禁党政机关公务人员未经批准在企业兼职（任职）。申报企业拥有的资产应当质量优良、权属清晰，严禁将公立学校、公立医院、公共文化设施、公园、公共广场、机关事业单位办公楼、市政道路、非收费桥梁、非经营性水利设施、非收费管网设施等公益性资产及储备土地使用权计入申报企业资产。
II. An applicant enterprise shall disclose its financial information and project information, among others, in a truthful, accurate and complete manner, support investors in effectively identifying risks, and false statements or misleading publicity relevant to the local government credit shall be strictly prohibited. The credit rating agencies shall carry out rating work on the basis of enterprises' finance and project information and shall not connect the applicant enterprises' credit with local government credit. A relevant enterprise shall, when applying for bonds, actively make public statement on not undertaking the government financing functions, and issue current bonds not involving newly increased local government debts.		二、申报企业应当真实、准确、完整地披露企业自身财务信息和项目信息等，支持投资者有效甄别风险，严禁涉及与地方政府信用挂钩的虚假陈述、误导性宣传。信用评级机构应当基于企业财务和项目信息等开展评级工作，不得将申报企业信用与地方政府信用挂钩。相关企业申报债券时应主动公开声明不承担政府融资职能，发行本期债券不涉及新增地方政府债务。
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