Corporate bond risks

THE country’s top economic planner said yesterday it would launch an investigation and assessment into corporate bond risks, in an effort to strengthen management and reduce financial risks.

Local authorities will be required to conduct checks on companies’ ability to repay their bonds, and help resolve repayment risks to protect bondholders’ rights, the National Development and Reform Commission (NDRC) said in a statement on its website. The NDRC also said it will encourage qualified firms to issue bonds to support infrastructure construction projects.

Employment trends

REGULATORS will be closely watching employment trends this year and preparing relevant policy responses to ensure jobs remain stable, Vice Premier Han Zheng said Tuesday, according to Xinhua.

Han also told an internal meeting of the National Development and Reform Commission that policies to cut fees and taxes for firms should be implemented this year, and their financing difficulties should be addressed.

Equity incentives

THE government has rolled out new rules to support equity incentives for foreign employees at domestic listed firms in its latest efforts to further open up the capital market.

Procedures will be streamlined as the money involved will be managed in a registration-based manner, according to a statement released Tuesday by the country’s central bank and forex regulator. Related operations such as cross-border payment and remittance can be conducted after registration without having to apply for approval.

Bank accounts

THE central bank said yesterday it will abolish permits for opening bank accounts by companies by the end of 2019, in line with a State Council directive to reduce administrative red tape.