The Hainan provincial government issued its first offshore renminbi bonds in Hong Kong on Thursday, signaling Hong Kong as the preferred platform for the mainland's provincial and municipal governments to issue renminbi debt products.

National Association of Financial Market Institutional Investors (“NAFMII”) hereby promulgates the Detailed Rules for the Administration of Tiered Management of Debt Financing Instruments of Overseas Non-Financial Enterprises (the “Detailed Rules”) and the Form Requirements for Registration Documents for Debt Financing Instruments of Overseas Non-Financial Enterprises (the “Form”) with a view to fully implementing the policy of the CPC Central Committee and the State Council to expand the open-up of the financial sector in an active and orderly manner and further improving the quality and level of the open-up of the debt financing instruments market. To further regulate the registration and issuances of debt financing instruments by overseas non-financial enterprises, NAFMII hereby provides the notice on the relevant matters as follows:

NAFMII released Notice on the Trial Implementation of Cash Tender Offer in China's Non-financial Enterprise Debt Financing Instruments Market (hereinafter referred to as the Notice) in early November, in the aim of diversifying the bond issuers' liability management toolkit.

NAFMII released new Guidelines Respecting Underwriting Due Diligence for Non-financial Enterprise Debt Financing Instrument (hereinafter referred to as the new Guidelines) in December, an effort to reinforce underwriting due diligence practices in light of recent years' development in the interbank bond market.

To download the file →http://www.nafmii.org.cn/englishnew/selfregulations/selfregulatoryrulesandguid

To download the report → Statistics on Debt Financing Instruments in December 2020

Pursuant to the Detailed Rules for the Administration of Tiered Management of Debt Financing Instruments of Overseas Non-financial Enterprises, overseas seasoned enterprises may prepare one set of registration documents covering multiple types of debt financing instruments, including super short-term commercial paper (SCP), commercial paper (CP), medium-term notes (MTN), perpetual notes (PN), asset-backed notes (ABN) and green notes (GN), and apply for DFI Registration. To further facilitate the issuance of panda bonds by overseas unseasoned enterprises, the pilot program will allow overseas unseasoned enterprises to apply for DFI Registration and set a registration amount at the time of registration.

The Reserve Bank of New Zealand – Te Pūtea Matua – is well placed to manage the wind-down of additional monetary policy (AMP) tools, Assistant Governor Karen Silk says in a speech today to the KangaNews New Zealand Debt Capital Markets Summit 2022.

Zambia will not be paying its $750 million euro bond due in September until new terms of payment are agreed between the government and bondholders, its Finance Minister Situmbeko Musokotwane said on Sunday. The International Monetary Fund (IMF) on Thursday approved a $1.3 billion, 38-month loan programme, a step taken after its main creditors China and France agreed in July to negotiate to restructure the southern African country's debt.