Interim Measures for the Administration of RMB Bond Issuance by International Development Institutions

国际开发机构人民币债券发行管理暂行办法

 

Promulgating Institution:The People's Bank of China; Ministry of Finance; National Development and Reform Commission; China Securities Regulatory Commission

Document Number: Announcement [2005] No. 5 of the People's Bank of China; the Ministry of Finance; the National Development and Reform Commission and the China Securities Regulatory Commission

Promulgating Date: 02/18/2005

Effective Date: 02/18/2005

Revision History:This document has been amended pursuant to the Announcement No. 10 [2010] of the People's Bank of China, the Ministry of Finance, the National Development and Reform Commission and the China Securities Regulatory Commission--Interim Measures for the Administration of RMB bond Issuance by International Development Institutions promulgated on September 16, 2010.

 

颁布机关: 中国人民银行; 财政部; 国家发展和改革委员会; 中国证券监督管理委员会

文      号: 中国人民银行、财政部、国家发展和改革委员会、中国证券监督管理委员会公告2005年第5号

颁布时间: 02/18/2005

实施时间: 02/18/2005

修订记录: 根据2010年9月16日中国人民银行、财政部、国家发展和改革委员会、中国证券监督管理委员会发布的《国际开发机构人民币债券发行管理暂行办法》（实施时间：2010年9月16日），此文件被修订。

  

Article 1   These Measures are formulated in accordance with the Law of the People's Republic of China on the People's Bank of China, the Securities Law of the People's Republic of China and other applicable laws and regulations with a view to regulating the issuance of RMB bonds by international development institutions and protecting the legitimate rights and interests of bondholders.

       第一条  为规范国际开发机构人民币债券的发行,保护债券持有人的合法权益,根据《中华人民共和国中国人民银行法》和《中华人民共和国证券法》等法律、法规,制定本办法。

  Article 2   For the purpose of these Measures, international development institutions shall refer to international development financial institutions engaged in development loans and investment.

       第二条  本办法所指国际开发机构是指进行开发性贷款和投资的国际开发性金融机构。

  Article 3   For the purpose of these Measures, RMB bonds of international development institutions (hereinafter referred as to the RMB Bond) shall mean bonds issued by international development institutions within the territory of China that are denominated in RMB and whose principal and interest shall be redeemed within the agreed term.

       第三条  本办法所称国际开发机构人民币债券(以下简称人民币债券)是指国际开发机构依法在中国境内发行的、约定在一定期限内还本付息的、以人民币计价的债券。

  Article 4   International development institutions shall submit an application for bond issuance within the territory of China to such window departments as the Ministry of Finance (MOF). The window department shall, after examination of the application in conjunction with the People's Bank of China (PBOC), the National Development and Reform Commission (NDRC) and the China Securities Regulatory Commission (CSRC), report the same to the State Council for approval.

       第四条  在中国境内申请发行人民币债券的国际开发机构应向财政部等窗口单位递交债券发行申请,由窗口单位会同中国人民银行、国家发展和改革委员会、中国证券监督管理委员会等部门审核后,报国务院同意。

  Article 5   The NDRC shall, in conjuction with the MOF, examine the issuance scale of RMB Bonds and the intended purposes of the funds raised in light of State industrial policies, the status of foreign capital and external debts, macro-econmoy and international balance of payment.

       第五条  国家发展和改革委员会会同财政部根据国家产业政策、外资外债情况、宏观经济和国际收支状况,对人民币债券的发行规模及所筹资金用途进行审核。

  Article 6   The PBOC shall manage the interest rates of RMB Bonds.

       第六条  中国人民银行对人民币债券发行利率进行管理。

  Article 7   The State Administration of Foreign Exchange (SAFE) shall be responsible for the administration over non-residential RMB special accounts for funds raised from bond issuance, and the settlement and sales of foreign exchange thereunder in accordance with the relevant provisions on foreign exchange administration.

       第七条  国家外汇管理局根据有关外汇管理规定负责对发债资金非居民人民币专用账户及其结、售汇进行管理。

  Article 8    The MOF and relevant State authorities of external debts and foreign capital shall manage loans disbursed and investments made with funds raised from bond issuance.

       第八条  财政部及国家有关外债、外资管理部门对发债所筹资金发放的贷款和投资进行管理。

  Article 9   An international development institution that applies for RMB Bond issuance within the territory of China shall satisfy the following conditions:

(1) the institution shall have healthy financial status and good credit standing, and the credit rating of the RMB Bonds thereof shall be above Level AA as rated by rating agencies registered within the territory of China and qualified to rate RMB Bonds;

(2) the institution has offered loans and equity funds of more than a billion USD to projects or enterprises within the territory of China;

(3) the institution shall use the funds raised thereby to provide mid-long term fixed assets loans or equity funds for construction projects within the territory of China, and the investment projects are in compliance with China's industrial policies, policies on the use of foreign capital and provisions on fixed assets investment. Projects using sovereign external debts shall be listed in relevant foreign loan plans.

       第九条  国际开发机构申请在中国境内发行人民币债券应具备以下条件:

    (一)财务稳健,资信良好,经在中国境内注册且具备人民币债券评级能力的评级公司评级,人民币债券信用级别为AA级以上;

    (二)已为中国境内项目或企业提供的贷款和股本资金在十亿美元以上;

    (三)所募集资金用于向中国境内的建设项目提供中长期固定资产贷款或提供股本资金,投资项目符合中国国家产业政策、利用外资政策和固定资产投资管理规定。主权外债项目应列入相关国外贷款规划。

  Article 10   International development institutions shall submit the following materials when applying to issue RMB Bonds within the territory of China:

(1) an application report for issuing RMB Bonds;

(2) a prospectus;

(3) audited financial statements and notes thereto of the last three (3) years;

(4) a RMB Bonds credit rating report and the description of the follow-up rating arrangement;

(5) information on loans and investment offered to projects or enterprises within the territory of China;

(6) list of projects to which loans and equity funds are to be offered and relevant supporting documents and legal documents;

(7) legal opinions issued by lawyers practicing under the Law of the People's Republic of China on Lawyers;

(8) other major issues related to the current bond issuance.

       第十条  国际开发机构申请在中国境内发行人民币债券应提交以下材料:

    (一)人民币债券发行申请报告;

    (二)募集说明书;

    (三)近三年经审计的财务报表及附注;

    (四)人民币债券信用评级报告及跟踪评级安排的说明;

    (五)为中国境内项目或企业提供贷款和投资情况;

    (六)拟提供贷款和股本资金的项目清单及相关证明文件和法律文件;

    (七)按照《中华人民共和国律师法》执业的律师出具的法律意见书;

    (八)与本期债券相关的其他重要事项。

  Article 11   Where an international development institution issues RMB Bonds, the financial materials thereof shall be audited by public accountants certified under the Law of the People's Republic of China on Certified Public Accountants in accordance with the accounting standards of China and shall be publicly disclosed.

       第十一条  国际开发机构发行人民币债券,其财务资料须由按照《中华人民共和国注册会计师法》注册的会计师依据中国会计标准进行审计,并对外公开披露。

  Article 12    International development institutions shall engage lawyers practicing under the Law of the People's Republic of China on Lawyers to carry out legal certification and issue legal opinions on the issuance of RMB Bonds.

       第十二条  国际开发机构发行人民币债券须由按照《中华人民共和国律师法》执业的律师进行法律认证,并出具法律意见书。

  Article 13   International development institutions shall organize underwriting syndicates for public issuance of RMB Bonds within the territory of China. Underwriters thereof shall be securities operators established within the territory of China.

       第十三条  国际开发机构在中国境内公开发行人民币债券应组成承销团,承销商应为在中国境内设立的证券经营机构。

  Article 14   RMB Bonds may be traded and go into circulation upon conclusion of the issuance with approval from relevant market regulatory and administration authorities.

       第十四条  人民币债券发行结束后,经相关市场监督管理部门批准,可以交易流通。

  Article 15   International development institutions approved to issue RMB Bonds (hereinafter referred to as the Issuer) shall effectively fulfill the obligation of information disclosure in compliance with relevant Chinese laws thereon.

       第十五条  获准发行人民币债券的国际开发机构(以下简称发行人)应当遵循中国有关信息披露的法律规定,切实履行信息披露义务。

  Article 16    Interest rates of RMB Bonds shall be determined by Issuers with reference to the rate of return of treasury bonds of the corresponding period and be verified and approved by the PBOC.

       第十六条  人民币债券发行利率由发行人参照同期国债收益率水平确定,并由中国人民银行核定。

  Article 17   Funds raised by Issuers from issuing RMB Bonds shall be used for projects within the territory of China and may not be exchanged into foreign exchange and transferred overseas. Issuers shall use and manage idle funds raised from bond issuance in accordance with relevant Chinese laws and regulations.

       第十七条  发行人发行人民币债券所筹集的资金,应用于中国境内项目,不得换成外汇转移至境外。发行人应按中国有关法律规定对发债闲置资金进行使用和管理。

  Article 18   Issuers shall open non-residential RMB special accounts for funds raised from bond issuance one (1) month prior to the date of issuance of RMB Bonds. The opening and writing-off of the said accounts and the settlement and sales of foreign exchange thereunder shall be subject to the approval of the SAFE.

       第十八条  发行人应在人民币债券发行日前一个月内,为发债募集的资金开立非居民人民币专用账户,该账户的开立、注销及有关资金的结、售汇应经国家外汇管理局批准。

  Article 19   Upon issuance of RMB Bonds, where the RMB income from recovery of loans and withdrawal of investment needs to be used for purchase and remittance of foreign exchange to repay capital previously transferred in from overseas, or where Issuers remit investment yields out of the territory of China, formalities for verification and approval of foreign exchange purchase and remittance shall be handled with the SAFE.

       第十九条  人民币债券发行后,收回贷款和退出投资获得人民币收入用于偿付原境外调入资金需购汇汇出的,以及发行人汇出投资收益的,须到国家外汇管理局办理购汇汇出核准手续。

  Article 20   Issuers that are unable to redeem the principal and interest of RMB Bonds upon maturity due to inability to recover loans on schedule or other reasons may transfer foreign exchange funds from overseas and open special accounts for foreign exchange pursuant to relevant provisions. Settlement of foreign exchange funds shall be subject to the verification and approval of the SAFE.

       第二十条  发行人因贷款无法及时收回或其他原因导致其无法按期偿还人民币债券本息时,可从中国境外调入外汇资金,并按有关规定开立外汇专用账户,外汇资金结汇须经国家外汇管理局核准。

  Article 21    Issuers shall report disbursement and recovery of RMB loans and investments using capital raised from RMB Bonds to the SAFE by the end of each quarter.

       第二十一条  发行人须在每季度末向国家外汇管理局报送运用人民币债券资金发放及回收人民币贷款、投资的情况。

  Article 22   International development institutions shall compile RMB Bond issuance documents in Chinese.

       第二十二条  国际开发机构发行人民币债券工作文本语言应为中文。

  Article 23    Any breach of contract or other disputes arising out of or in connection with the issuance of RMB Bonds within the territory of the China by international development institutions shall be governed by Chinese laws.

       第二十三条  国际开发机构在中国境内发行人民币债券,发生违约或其他纠纷时,适用中国法律。

  Article 24   The PBOC shall be responsible for interpreting these Measures in conjunction with the MOF, the NDRC and the CSRC.

       第二十四条  本办法由中国人民银行会同财政部、国家发展和改革委员会、中国证券监督管理委员会解释。

  Article 25   These Measures shall come into force as of the date of promulgation.

       第二十五条  本办法自发布之日起施行。