National Association of Financial Market Institutional Investors, Business Rules for Super Short-term Commercial Paper of Non-financial Enterprises in the Interbank Bond Market (Trial Implementation)

中国银行间市场交易商协会银行间债券市场非金融企业超短期融资券业务规程 (试行)

January 24, 2011 | BY

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Super short-term commercial paper allowed in the interbank bond market.

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Promulgated: December 21 2010

Effective: as of date of promulgation

Applicability: The term “super short-term commercial paper” refers to short-term commercial paper with maturities up to 270 days that are issued in the interbank bond market by non-financial enterprises (Enterprises) with legal personality and a relatively high credit-rating (Article 3).

Main contents: The proceeds from the issue of super short-term commercial paper by Enterprises shall be used for liquidity needs