China's National Development and Reform Commission (NDRC) said it will loosen control over corporate bond issuance

  • Statement posted on its website on Wednesday
  • NDRC will streamline onshore bond issuance procedures, remove limits on issuances by corporates rated AA and above, and encourage insurers to develop bond default insurance and default swaps
  • Says proceeds from bond issuances cannot be reinvested in stocks

more at Reuters