China's Ministry of Culture is planning to join hands with Shenzhen Stock Exchange (SZSE) to push ahead with cultural enterprises' corporate bond issuance on SZSE in a bid to lower cultural enterprises' funding costs, the Shanghai Securities News reported on Friday citing an official with the Ministry of Culture.
According to the report, Chinese cultural enterprises had issued overall 470 billion yuan worth of corporate bonds on interbank bond market so far this year. The Ministry of Culture will help cultural firms to expand direct financing channels and solve their development bottleneck, said the official.
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