Pilot plan to help small enterprises get funding

A pilot program that would allow small, non-listed companies to issue bonds to limited categories of investors has been submitted to the State Council for final approval, the China Securities Regulatory Commission said on Thursday.

The goal is to expand funding channels for cash-starved businesses and support industry.

The bonds may only be sold to a limited number of sophisticated investors, under a proposal made earlier by the Shanghai and Shenzhen stock exchanges.