国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

Agricultural Development Bank to issue more offshore yuan bonds

By JIANG XUEQING (China Daily) Updated: 2015-07-31 10:47

Agricultural Development Bank of China will issue more offshore renminbi-denominated bonds this year to raise a large amount of capital and reduce the cost of bond issuance, a bank official said on Thursday.

The State-owned agricultural policy bank faces a sharp increase in capital demands, especially for medium- to long-term funding, as it is strengthening efforts to support major water projects, urban-rural integration and poverty alleviation.

At present, its annual debt issuance has reached 800 billion yuan ($129 billion), up 40 percent year-on-year, said Liu Dinghua, general manager of the bank's funds planning department.

Meanwhile, China's interest rate liberalization has significantly increased the cost of bond issuance. During the period of liquidity strain in 2014, the lender's debt issuance costs went up by nearly 200 basis points.

On the other hand, the People's Bank of China, the central bank, lowered the benchmark lending rates three times in the first half of this year. It caused a drop of 19 billion yuan in the lender's interest income from loans.

"In spite of the challenges, we will still rely on domestic and international markets for capital raising," Liu said. "Issuing offshore renminbi-denominated bonds will help lower our fundraising costs."

Last year, the interest rates of offshore renminbi-denominated bonds were about 200 basis points lower than that of onshore yuan debts, he said.

In addition, the bank will also seek more monetary policy support, such as re-lending, from the People's Bank of China and financial support from the central government.

In April, the State Council approved the reform plans of three policy lenders, including Agricultural Development Bank of China. It required the lender to manage policy-oriented business and operational business on separate accounts to clarify responsibilities.

The relevant government departments are discussing the standards on how to define these two kinds of businesses, said the bank's spokesman Sun Lansheng.

Established in 1994, Agricultural Development Bank of China is a wholly State-owned lender specialized in providing financial support for agricultural and rural development.

As of June 30, its outstanding loans hit 3.1 trillion yuan, up 9 percent from the beginning of this year. During the first six months, new loans reached 740.7 billion yuan, rising 7.4 percent from the previous year.

The loans were mainly used to fund grain and oil purchase, large water projects, rural shantytown renovation, urbanization and poverty alleviation, Sun said.

Hot Topics

Editor's Picks
...
大宁县| 桓台县| 苏州市| 湘西| 阳春市| 凤台县| 西城区| 迭部县| 鄄城县| 曲沃县| 枣阳市| 宁河县| 临朐县| 汉阴县| 九台市| 海丰县| 额敏县| 乌拉特后旗| 宁城县| 宾阳县| 彭阳县| 黄骅市| 缙云县| 郑州市| 万盛区| 台北县| 曲阳县| 松溪县| 平远县| 隆昌县| 武功县| 九龙城区| 明光市| 海丰县| 威信县| 阜康市| 阿拉善盟| 靖江市| 肥东县| 讷河市| 永新县|