MNI China Press Digest Aug 7: Overseas Debt, Bonds, Emissions

Highlights from Chinese press reports on Wednesday:

• Chinese enterprises issued a record USD17.05 billion of overseas convertible bonds so far this year, up 159% y/y, as firms expand financing channels with lower costs, the Securities Daily reported. Alibaba Group issued USD5 billion, the highest of the 13 issuers, with authorities supporting foreign exchange services to boost overseas expansion and financing for private enterprises, the newspaper said.
• Local governments will accelerate bond sales in August and September to around CNY2 trillion as authorities target investment and stabilising growth, Yicai.com reported. Local governments raised a total of CNY4.2 trillion of notes in the first seven months, including about CNY2 trillion of refinancing bonds, CNY400 billion of general bonds and CNY1.8 trillion of special bonds used for municipal infrastructure, industrial parks, railways and toll roads, the newspaper said.
• China’s new energy and emissions management framework will allow authorities to better target emissions from chemical reactions in the cement and petrochemical sector, according to experts interviewed by Yicai. The new framework entitled "Accelerating the Construction of a Dual Control System for Carbon Emissions" better reflects the practicality of controlling emissions, industry insiders said.