More options to be given to local SOEs in debt issuance

China is widening financing channels for local State-owned enterprises in order to ease the growing debt burden on local governments, sources familiar with the matter say.

The measures include allowing more enterprises to issue short-term debt in the domestic market and to raise capital via so-called "dim sum bonds" in overseas renminbi markets.

A company with a sound record - with a credit rating of AA+ or above - will be allowed to sell short-term debt that matures in 270 days or less, Bloomberg reported, citing unidentified sources with the National Association of Financial Market Institutional Investors, which regulates the sales.