NDRC to Scale Up Foreign Debt Borrowing by Overseas Banks Through Outbound Financing
Yicai Global
/SOURCE : Yicai
NDRC to Scale Up Foreign Debt Borrowing by Overseas Banks Through Outbound Financing

(Yicai Global) Jan. 3 -- China's National Development and Reform Commission (NDRC) said it will further expand foreign borrowings by banks abroad through outbound loans to facilitate cross-border financing.

The NDRC announced today that, when approving the scale of medium and long-term foreign debt borrowed by non-domestic banks in 2017, it will mainly consider the actual use of such debt by applicant banks over the previous three years, and will also assess the foreign exchange demand for fixed-asset investment projects and medium- and long-term working capital loans in 2017.

It will further require foreign banks to submit reports on the utilization of foreign debt each quarter to avert external debt and financial risks.

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