June 15, 2018 / 6:42 AM / a year ago

China to ban foreign debt issues by third-time rule violators: state planner

BEIJING (Reuters) - China’s powerful state planner will ban firms from registering foreign debt issues if they are found to have violated the relevant rules three times, it said on Friday.

A first violation will bring a call from the state planner, the National Development and Reform Commission (NDRC), and a second will result in a firm being named on its website, it added.

Last month, the agency imposed tighter curbs on companies which looking overseas to raise relatively low-cost funds, in an effort to rein in financing risks.

Reporting by Beijing Monitoring Desk; Editing by Clarence Fernandez

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