NDRC signals drop off in offshore bond approvals

Chinese issuance may tail off as regulators indicate they will not approve any more offshore bonds once the National People's Congress gets under way in mid-October.

NDRC signals drop off in offshore bond approvals

Indications that China’s National Development Reform Commission NDRC is getting close to its informal offshore bond quota could lead to a drop off in issuance from the country during the fourth quarter according to mainland-based bankers.

The NDRC’s bond approval procedures have frequently been hard to decipher. But Chinese bankers say they are getting clear feedback from the regulator that it is now very close to its country limit for the year.

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