The notice by the National Development and Reform Commission comes on the heels of a spurt of high-profile bond defaults by state-owned companies. The NDRC, which oversees the issuance of so-called "enterprise bonds" by mostly state-owned firms, launches such inspections every year. In other news, Shenzhen is aiming to double its economy and GDP per capita in 2035, mainland media reported. "A premature policy exit and excessive tightening could derail the recovery," the World Bank said in its latest economic update on China, released Wednesday. It predicts the world's second-largest economy will grow 2 percent this year and 7.9 percent in 2021.

Source: The Standard December 23, 2020 19:07 UTC