NDRC to check enterprises in bond applications

Verification checks on enterprises applying to issue corporate bonds will be carried out to prevent systematic and regional risks to bonds markets.

The National Development and Reform Commission (NDRC) confirmed the move in a circular released on Thursday.

The checks will cover financial data of the applicants, their debt-paying ability and debt history as well as their credit rating.

The circular demanded that applicant enterprises, underwriters, accountants, credit rating agencies submit reports to local authorities for further verification and checks.

Local authorities need to confirm the compliance and genuineness of the reports.