中文    English
  News Center
 
News Center > Media Coverage
 Dow Jones-China Official: Advent of Junk Bond Won’t Affect Bill Mkt 

Dow Jones International News

(c) 2006 Dow Jones & Company, Inc.

SHANGHAI (Dow Jones)--The advent of China's first junk bond last month isn't likely to hurt the development of the domestic corporate bill market, a central bank official said Thursday.

Last month, a local ratings company downgraded its credit rating on CNY1 billion of bills issued by toll-road operator Fuxi Group from A-1 to junk grade C due to previously undisclosed loan guarantees for one of its shareholders.

"The Fuxi case won't affect the development of the short-term bill market," Mu Huaipeng, director of the People's Bank of China's finance market department, said on the sidelines of the Asia-Pacific Finance and Development Center Biennial Forum in Shanghai.

Copyright © Asia-Pacific Finance and Development Center. All Rights Reserved.
Address: 200 Panlong Road, Qingpu District, Shanghai, China.  Postcode: 201702  Tel:86-21-69768000