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Make Concerted Efforts and Forge Ahead with Innovation to Open a New Chapter of the Interbank Bond Market—General Meeting of NAFMII Bond Market Professional Committee & The First Meeting of the Fourth Session of NAFMII Bond Market Professional Committee Successfully Held

 

The General Meeting of NAFMII Bond Market Professional Committee &The First Meeting of the Fourth Session of NAFMII Bond Market Professional Committee were held in Beijing on January 18, 2017.

28 member representatives from 27 member institutions of the committee attended the meeting. Xie Duo, Executive Vice President and Secretary-General of NAFMII,  announced the member list of the Fourth Session of Bond Market Professional Committee, and issued the letters of appointment to Chairman, Vice Chairman, and other members on behalf of NAFMII President Tian Guoli. The meeting was presided over by Feng Guanghua, Deputy Secretary-General of NAFMII.

Secretary-General Xie Duo pointed out that Professional Committee is an important mechanism which gives full play to the role of market to discuss and determine issues related to the market development, playing a positive role in promoting the innovative development of interbank bond market. Under the leadership of Chairman Gu Yu, members of the Third Session of Bond Market Professional Committee worked diligently and fulfilled consultant duty quite well, making outstanding contribution to interbank bond market’s standardization and development. NAFMII fully recognized the work of the Third Session of Bond Market Professional Committee and expressed its gratitude to all members. After the term-due, on the basis of widely soliciting the views of market members, the member list of the Fourth Session of Bond Market Professional Committee was discussed and formed in accordance with relevant provisions of the Management Measures of Professional Committees of National Association of Financial Market Institutional Investors. Secretary-General Xie Duo stressed that, given the current daunting tasks to cutting overcapacity, destocking, deleveraging, reducing corporate costs and improving weak links, it remains an important task in the bond market to continuously promote innovation in debt financing instrument, promote standardized development of interbank market, establish and improve risk prevention and disposal mechanisms, which raises a higher demand for members of the new session of Bond Market Professional Committee. Secretary General Xie Duo expressed the hope that the Fourth Session of the Bond Market Professional Committee will adhere to the professionalism of being “independent, objective and fair”, continue to actively carry forward the professional spirit, and jointly create a new dimension in China’s interbank bond market development.

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The work report of the Third Session of Bond Market Professional Committee was debriefed at the meeting. In the report, the Third Session of Bond Market Professional Committee summarized its work in improving information disclosure mechanisms of project revenue notes, perpetual notes, asset-backed notes and other products, optimizing multi-tiered and classified registration and issuance as well as pricing valuation mechanisms, and improving the investor protection mechanism.

With the concerted efforts of all members, the Third Session of Bond Market Professional Committee has deliberated 42 proposals and made a positive contribution to the standardized development of interbank bond market.

Wang Zhong, Chairman of the Fourth Session of Bond Market Professional Committee, delivered a speech on behalf of the new Session, saying that the new committee will uphold professionalism of independence, objectivity and impartiality, work diligently, and continue to contribute wisdom and strength to the in-depth innovation of debt financing instruments and the standardized development of interbank bond market, promoting China’s interbank bond market to a higher level.

Subsequently, Wang Zhong, Chairman of the Fourth Session of Bond Market Professional Committee presided over the first meeting. The meeting listened to, deliberated and passed three proposals including the Proposal on Revising the ‘Rules of Procedure of Bond Market Professional Committee of NAFMII’ (revised draft), the Proposal on Improving ‘Relevant Registration and Issuance Mechanisms of Debt Financing Instruments for Affordable Housing Projects’, and the Proposal on Formulating ‘Green Debt Financing Instrument Business Guidelines for Non-financial Enterprises’ and Supporting Forms.   

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Group Photo of the Member representatives of the Fourth Session of Bond Market Professional Committee of NAFMII