The government of Henan is planning to set up a financial institution to sell credit default swap (CDS) contracts in a bid to offer credit enhancement services to SOEs, including the largest coal producers and steel makers in the province, including Zhengzhou Coal Industry Group Co. Ltd., and Anyang Iron & Steel Group Co. Ltd., to lower their financing costs, according to a document posted on the official website of the Henan provincial government.
In the annual government work report delivered by Premier Li Keqiang earlier this month, the central government stressed that bond defaults are a major risk facing financial markets.
Henan is the second province to try the tool, following in the footsteps of Shanxi province, China’s top coal producing region, which established a company to sell CDS contracts in September.
继众院之后 美参院通过援助乌克兰以色列台湾法案
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美国国会参议院周二(4月23日)晚间以压倒性多数的票数,通过了950亿美元外援方案,向乌克兰、以色列和台湾提供 […]...
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