China Moves Step Closer to Unifying Corporate Bond Market Oversight

China has laid out a blueprint for its top securities regulator to take over the part of the country’s corporate bond market currently overseen by the economic planning agency, as it strives to unify regulation of its $21 trillion bond market.

The National Development and Reform Commission (NDRC) will transfer oversight of enterprise bonds (企业债), a type of corporate bond, to the China Securities Regulatory Commission (CSRC) over a period of six months, according to a plan released by both departments on Friday.