Chinese companies issue record amount of bonds in first quarter

Corporate bond issuance by Chinese companies grew by 54% in the first quarter of 2014 from the fourth quarter of 2013 to 1.55 trillion yuan ($250 billion.) Because bond sales in China have to be approved by central government regulators, this record for bond issuance argues that any restrictions on bank credit the government outs as evidence of monetary tightening are being more than balanced by increases in cash flow from corporate bond issuance