Bond rules eased for 'key' investment sectors

Senior citizens watch a folk art performance at the Weiwu Square in Bozhou, Anhui province. The NDRC singled out the senior-care industry, urban parking lots and underground pipeline networks and issued specific guidelines for them. [Photo/China Daily]

Regulators have simplified the requirements for bonds issued to finance clean energy projects, as well as those in senior care, underground pipelines and other emerging sectors, as the government attempts to bolster investment amid a flagging economy.

In documents released on Thursday, the National Development and Reform Commission, the top economic planner and regulator of State-owned enterprises' bond issues, said that it will streamline the process of approving such issues.

The sectors involved in the new announcement include the seven "key investment sectors" identified by the NDRC in December: Internet infrastructure, health and senior-care services, environmental protection, clean energy, food and water, transportation and ancillary services for oil, natural gas and mining.

The NDRC singled out the senior-care industry, urban parking lots and underground pipeline networks and issued specific guidelines for them.

For example, funds raised could be used by local governments' SOEs to establish senior-care facilities or buy State-owned hospitals, schools and rehabilitation centers and transform them into such facilities.

Banks should help these businesses issue bonds and assist them with traditional lending, the NDRC said in online statements.

The economy grew at its weakest pace since 1990 last year and most likely achieved even slower growth in the first quarter.