Chinese-funded bonds refer to the bonds denominated in US dollars that are borrowed from overseas by domestic enterprises and their controlled overseas enterprises or branches, and the bonds denominated in US dollars and paid back the principal and interest according to the agreement. Among them, real estate dollar bonds, urban investment dollar bonds and financial dollar bonds are the three main varieties.
In terms of the classification of Chinese dollar bonds among international bonds, Chinese dollar bonds can be divided into US dollar bonds issued by Chinese enterprises in the US and US dollar bonds issued by Chinese enterprises outside the US. The former is a kind of foreign bonds.
The latter is a type of Eurobond.
Among them, dollar bonds are the most common registered issuance method, that is, they cannot be issued to American investors according to Regulations S of the US Securities and Exchange Commission, and they are not regulated by the US Securities and Exchange Commission.
The dollar-bond rules are lax on disclosure and do not impose rating requirements.
