Announcement on Issuing the Guidelines for Debt Financing Instrument Business of Overseas Non-financial Enterprises (for Trial Implementation)
Announcement on Issuing the Guidelines for Debt Financing Instrument Business of Overseas Non-financial Enterprises (for Trial Implementation)
Announcement on Issuing the Guidelines for Debt Financing Instrument Business of Overseas Non-financial Enterprises (for Trial Implementation)
Announcement of the National Association of Financial Market Institutional Investors [2019] No.1
January 17, 2019
In order to implement the policy spirit of the Central Committee of the Communist Party of China and the State Council on "promoting the formation of a new landscape in all-around opening-up" and "expanding the opening-up of the financial industry", promote the standard development of the debt financing instrument business of overseas non-financial enterprises, and improve the opening-up of the inter-bank market, and in accordance with the Measures of the Administration of Debt Financing Instruments of Non-financial Enterprises on the Inter-bank Bond Market (Order of the People's Bank of China [2008] No.1) issued by the People's Bank of China, the Interim Administrative Measures for the Issuance of Bonds by Overseas Institutions on the National Interbank Bond Market (Announcement of the People's Bank of China and the Ministry of Finance [2018] No.16) issued by the People's Bank of China and the Ministry of Finance and the relevant self-regulatory rules of the National Association of Financial Market Institutional Investors (the "NAFMII"), the NAFMII has organized market members to formulate the Guidelines for the Debt Financing Instrument Business of Overseas Non-financial Enterprises (for Trial Implementation), which have been adopted at the sixth meeting of the fifth Standing Committee of the NAFMII and approved by the People's Bank of China, are hereby promulgated for implementation as of the date of promulgation.
Guidelines for Debt Financing Instrument Business of Overseas Non-financial Enterprises (for Trial Implementation)
Chapter I General Provisions
Article 1 The Guidelines are formulated in accordance with the Measures of the Administration of Debt Financing Instruments of Non-financial Enterprises on the Inter-bank Bond Market (Order of the People's Bank of China [2008] No.1) issued by the People's Bank of China, the Interim Administrative Measures for the Issuance of Bonds by Overseas Institutions on the National Interbank Bond Market (Announcement of the People's Bank of China and the Ministry of Finance [2018] No.16) issued by the People's Bank of China and the Ministry of Finance and the relevant self-regulatory rules of the National Association of Financial Market Institutional Investors (the "NAFMII"), in order to promote the opening-up of the bond market and standardize the debt financing instrument business of overseas non-financial enterprises.
Article 2 For the purpose of the Guidelines, debt financing instruments of overseas non-financial enterprises refer to the debt financing instruments registered with the NAFMII and issued by non-financial enterprises legally incorporated outside the territory of the People's Republic of China and having independent legal person status. Where an enterprise in the Hong Kong Special Administrative Region, the Macao Special Administrative Region or Taiwan issues debt financing instruments, the Guidelines shall apply mutatis mutandis.
Article 3 Overseas non-financial enterprises issuing debt financing instruments shall be subject to self-regulatory supervision by the NAFMII and abide by the self-regulatory rules of the NAFMII, including but not limited to the Membership Rules of the National Association of Financial Market Institutional Investors.
Article 4 Principal underwriters, underwriters, custody institutions, credit rating agencies, accounting firms, law firms and other professional institutions and their respective personnel that provide professional services for overseas non-financial enterprises in connection with their issuance of debt financing instruments shall diligently perform their duties and strictly abide by the codes of conduct and ethics rules, and perform their respective obligations as required and agreed and assume their respective legal liability.
Article 5 The acceptance of registration by the NAFMII does not represent that the NAFMII has conducted any substantive assessment of the value of, and risks relating to, investments in the debt financing instruments issued by overseas non-financial enterprises.
......
Announcement of the National Association of Financial Market Institutional Investors [2019] No.1
January 17, 2019
In order to implement the policy spirit of the Central Committee of the Communist Party of China and the State Council on "promoting the formation of a new landscape in all-around opening-up" and "expanding the opening-up of the financial industry", promote the standard development of the debt financing instrument business of overseas non-financial enterprises, and improve the opening-up of the inter-bank market, and in accordance with the Measures of the Administration of Debt Financing Instruments of Non-financial Enterprises on the Inter-bank Bond Market (Order of the People's Bank of China [2008] No.1) issued by the People's Bank of China, the Interim Administrative Measures for the Issuance of Bonds by Overseas Institutions on the National Interbank Bond Market (Announcement of the People's Bank of China and the Ministry of Finance [2018] No.16) issued by the People's Bank of China and the Ministry of Finance and the relevant self-regulatory rules of the National Association of Financial Market Institutional Investors (the "NAFMII"), the NAFMII has organized market members to formulate the Guidelines for the Debt Financing Instrument Business of Overseas Non-financial Enterprises (for Trial Implementation), which have been adopted at the sixth meeting of the fifth Standing Committee of the NAFMII and approved by the People's Bank of China, are hereby promulgated for implementation as of the date of promulgation.
Guidelines for Debt Financing Instrument Business of Overseas Non-financial Enterprises (for Trial Implementation)
Chapter I General Provisions
Article 1 The Guidelines are formulated in accordance with the Measures of the Administration of Debt Financing Instruments of Non-financial Enterprises on the Inter-bank Bond Market (Order of the People's Bank of China [2008] No.1) issued by the People's Bank of China, the Interim Administrative Measures for the Issuance of Bonds by Overseas Institutions on the National Interbank Bond Market (Announcement of the People's Bank of China and the Ministry of Finance [2018] No.16) issued by the People's Bank of China and the Ministry of Finance and the relevant self-regulatory rules of the National Association of Financial Market Institutional Investors (the "NAFMII"), in order to promote the opening-up of the bond market and standardize the debt financing instrument business of overseas non-financial enterprises.
Article 2 For the purpose of the Guidelines, debt financing instruments of overseas non-financial enterprises refer to the debt financing instruments registered with the NAFMII and issued by non-financial enterprises legally incorporated outside the territory of the People's Republic of China and having independent legal person status. Where an enterprise in the Hong Kong Special Administrative Region, the Macao Special Administrative Region or Taiwan issues debt financing instruments, the Guidelines shall apply mutatis mutandis.
Article 3 Overseas non-financial enterprises issuing debt financing instruments shall be subject to self-regulatory supervision by the NAFMII and abide by the self-regulatory rules of the NAFMII, including but not limited to the Membership Rules of the National Association of Financial Market Institutional Investors.
Article 4 Principal underwriters, underwriters, custody institutions, credit rating agencies, accounting firms, law firms and other professional institutions and their respective personnel that provide professional services for overseas non-financial enterprises in connection with their issuance of debt financing instruments shall diligently perform their duties and strictly abide by the codes of conduct and ethics rules, and perform their respective obligations as required and agreed and assume their respective legal liability.
Article 5 The acceptance of registration by the NAFMII does not represent that the NAFMII has conducted any substantive assessment of the value of, and risks relating to, investments in the debt financing instruments issued by overseas non-financial enterprises.
......