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Announcement No. 1 [2019] of the National Association of Financial Market Institutional Investors—Announcement on Issuing the Guidelines for the Debt Financing Instrument Business of Overseas Non-Financial Enterprises (for Trial Implementation) [Effective]
中国银行间市场交易商协会公告[2019]1号——关于发布《境外非金融企业债务融资工具业务指引(试行)》的公告 [现行有效]
【法宝引证码】

Announcement of the National Association of Financial Market Institutional Investors 

中国银行间市场交易商协会公告

(No. 1 [2019]) (〔2019〕1号)

Announcement on Issuing the Guidelines for the Debt Financing Instrument Business of Overseas Non-Financial Enterprises (for Trial Implementation) 关于发布《境外非金融企业债务融资工具业务指引(试行)》的公告
For the purposes of carrying out the spirit of policies of the CPC Central Committee and the State Council such as those on “promoting the formation of the new pattern of opening-up in an all-around manner” and “expanding the opening-up of the financial industry,” promoting the standardized development of the debt financing instrument business of overseas non-financial enterprises, and enhancing the opening-up of the interbank market, in accordance with the Measures for the Administration of Debt Financing Instruments of Non-Financial Enterprises in the Interbank Bond Market (Order No. 1 [2008], PBC) issued by the People's Bank of China (“PBC”), the Interim Measures for the Administration of Bond Issuance by Overseas Institutions in the National Interbank Bond Market (Announcement No. 16 [2018], PBC and MOF) issued by the PBC and the Ministry of Finance and the relevant self-regulatory rules of the National Association of Financial Market Institutional Investors ( “NAFMII”), the NAFMII has arranged for market members to develop the Guidelines for the Debt Financing Instrument Business of Overseas Non-Financial Enterprises (for Trial Implementation), which, as deliberated and adopted at the sixth meeting of the Fifth Executive Council of the NAFMII and granted recordation and approved by the PBC, are hereby issued and shall come into force on the date of issuance. 为贯彻落实党中央、国务院关于“推动形成全面开放新格局”、“扩大金融业对外开放”等政策精神,促进境外非金融企业债务融资工具业务规范发展,提升银行间市场开放水平,根据中国人民银行《银行间债券市场非金融企业债务融资工具管理办法》(中国人民银行令〔2008〕第1号),中国人民银行、财政部《全国银行间债券市场境外机构债券发行管理暂行办法》(中国人民银行财政部公告〔2018〕第16号)及中国银行间市场交易商协会(以下简称“交易商协会”)相关自律规则,交易商协会组织市场成员制定了《境外非金融企业债务融资工具业务指引(试行)》,经交易商协会第五届常务理事会第六次会议审议通过,并经中国人民银行备案同意,现予发布,自发布之日起施行。
Annex: Guidelines for the Debt Financing Instrument Business of Overseas Non-Financial Enterprises (for Trial Implementation) 附件:境外非金融企业债务融资工具业务指引(试行)
National Association of Financial Market Institutional Investors 中国银行间市场交易商协会
January 17, 2019 2019年1月17日
Annex: 附件:
Guidelines for the Debt Financing Instrument Business of Overseas Non-Financial Enterprises (for Trial Implementation) 境外非金融企业债务融资工具业务指引(试行)
Chapter I General Provisions 

第一章 总则

 
Article 1 For the purposes of promoting the opening-up of the bond market and regulating the debt financing instrument business of overseas non-financial enterprises, these Guidelines are developed in accordance with the Measures for the Administration of Debt Financing Instruments of Non-Financial Enterprises in the Interbank Bond Market (Order No. 1 [2008], PBC) issued by the PBC, the Interim Measures for the Administration of Bond Issuance by Overseas Institutions in the National Interbank Bond Market (Announcement No. 16 [2018], PBC and MOF) issued by the PBC and the Ministry of Finance and the relevant self-regulatory rules of the National Association of Financial Market Institutional Investors (“NAFMII”).   第一条 为促进债券市场对外开放,规范境外非金融企业债务融资工具业务,根据中国人民银行《银行间债券市场非金融企业债务融资工具管理办法》(中国人民银行令〔2008〕第1号),中国人民银行、财政部《全国银行间债券市场境外机构债券发行管理暂行办法》(中国人民银行、财政部公告〔2018〕第16号)及中国银行间市场交易商协会(以下简称“交易商协会”)相关自律规则,制定本指引。
Article 2 For the purposes of these Guidelines, “debt financing instruments of overseas non-financial enterprises” means the debt financing instruments registered with and issued at the NAFMII by non-financial enterprises legally registered and formed outside the People's Republic of China and qualified as independent legal persons. These Guidelines shall apply, mutatis mutandis, to the issuance of debt financing instruments by enterprises in the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan Region.   第二条 本指引所称境外非金融企业债务融资工具,是指在中华人民共和国境外合法注册成立、具有独立法人资格的非金融企业在交易商协会注册发行的债务融资工具。香港特别行政区、澳门特别行政区及台湾地区企业发行债务融资工具的,参照本指引执行。
Article 3 Overseas non-financial enterprises that issue debt financing instruments shall accept the self-regulatory management of the NAFMII and abide by the self-regulatory rules of the NAFMII, including the Member Management Rules of the National Association of Financial Market Institutional Investors.   第三条 境外非金融企业发行债务融资工具,应接受交易商协会自律管理,遵守交易商协会包括《中国银行间市场交易商协会会员管理规则》在内的自律规则。
Article 4 Lead underwriters and underwriters, entrusted management institutions, credit rating agencies, accounting firms, law firms and other professional institutions and relevant personnel that provide professional services for the issuance of debt financing instruments by overseas non-financial enterprises shall perform duties in a diligent manner, strictly abide by practicing rules and professional ethics, fulfill obligations according to relevant provisions and agreements, and assume corresponding legal liability.   第四条 为境外非金融企业债务融资工具发行提供专业服务的主承销商和承销商、受托管理机构、信用评级机构、会计师事务所、律师事务所等专业机构及有关人员,应当勤勉尽责,严格遵守执业规范和职业道德,按规定和约定履行义务,并承担相应的法律责任。
Article 5 The acceptance of registration does not mean that the NAFMII makes substantive judgments on the investment value and investment risks of debt financing instruments of overseas non-financial enterprises. Registration does not exempt enterprises and relevant intermediaries from the legal liability of disclosing information in a truthful, accurate, complete and timely manner. Investors shall independently determine investment value and assume investment risks by themselves.   第五条 接受注册不代表交易商协会对境外非金融企业债务融资工具的投资价值及投资风险进行实质性判断。注册不能免除企业及相关中介机构真实、准确、完整、及时披露信息的法律责任。投资人应自主判断投资价值,自担投资风险。
Chapter II Registration and Issuance 

第二章 注册和发行

 
Article 6 Debt financing instruments issued by overseas non-financial enterprises shall be registered with the NAFMII.   第六条 境外非金融企业发行债务融资工具应在交易商协会注册。
Article 7 Overseas non-financial enterprises may issue debt financing instruments according to the issuance methods prescribed in the Rules for the Registration and Issuance of Debt Financing Instruments of Non-Financial Enterprises.   第七条 境外非金融企业可按照《非金融企业债务融资工具注册发行规则》中规定的发行方式发行债务融资工具。
Article 8 Debt financing instruments issued by overseas non-financial enterprises shall be underwritten by financial institutions qualified for the underwriting of debt financing instruments of non-financial enterprises. At least one lead underwriter must have a subsidiary or branch in the country or region where the enterprise is registered or mainly conducts business operation, or have other necessary arrangements so as to ensure that it has the ability to conduct due diligence and other work.   第八条 境外非金融企业发行债务融资工具应由具备非金融企业债务融资工具相关承销业务资格的金融机构承销。至少一家主承销商须在企业注册或主要营业国家或地区有子公司或分支机构,或有其他必要安排,以确保其具备开展尽职调查等工作的能力。
Article 9 The NAFMII that accepts the issuance registration shall issue a Registration Acceptance Notice to the overseas non-financial enterprise, and the registration shall be valid for two years.   第九条 交易商协会接受发行注册的,向境外非金融企业出具《接受注册通知书》,注册有效期2年。
Article 10 An overseas non-financial enterprise may issue, at its sole discretion, a debt financing instrument within 12 months after the registration is accepted, and if it issues such instrument after the 12-month period, it shall undergo recordation formalities with the NAFMII in advance.   第十条 境外非金融企业发行债务融资工具的,可在接受注册后12个月(含)内自主发行,12个月后发行的应事先向交易商协会备案。
An overseas non-financial enterprise may issue, at its sole discretion, a debt financing instrument by private placement during the validity period of the registration. If the overseas non-financial enterprise does not issue such instrument within 12 months after the registration is accepted, the initial issue after the 12-month period shall be filed with the NAFMII in advance. 境外非金融企业定向发行债务融资工具的,可在注册有效期内自主定向发行。境外非金融企业在接受注册后12个月内(含)未发行的,12个月后首期发行应事先向交易商协会备案。
Where there are other provisions for the debt financing instruments such as super short-term commercial papers, asset-backed notes, and project revenue notes, such other provisions shall prevail. 超短期融资券、资产支持票据、项目收益票据等债务融资工具品种另有规定的,从其规定。
Article 11 From the date when registration is accepted to the establishment of the debtor-creditor relationship in respect of debt financing instruments, if an overseas non-financial enterprise has any major matter, or any matter that, although not major, may have a significant impact on investment value and investment decision-making, supplement information shall be disclosed or it shall be submitted to the registration meeting for deliberation by reference to relevant provisions of the Work Procedures for the Public Offering and Registration of Debt Financing Instruments of Non-Financial Enterprises and the Work Procedures for the Private Placement and Registration of Debt Financing Instruments of Non-Financial Enterprises.   第十一条 自接受注册之日起至债务融资工具债权债务关系确立前,境外非金融企业发生重大事项,或者发生非重大、但可能对投资价值及投资决策判断有重要影响事项的,参照《非金融企业债务融资工具公开发行注册工作规程》、《非金融企业债务融资工具定向发行注册工作规程》相关规定进行补充信息披露或提交注册会议评议。
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