Project Data Sheets (PDS) contain summary information on the project or program: Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
|PDS Creation Date||–|
|PDS Updated as of||24 Mar 2015|
|Project Name||Innovative Small and Medium-Sized Enterprise Bond Financing and Investor Protection Mechanism|
China, People's Republic of
|In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.|
Industry and trade
Finance sector development
Money and capital markets
Small and medium enterprise development
|Strategic Agendas||Inclusive economic growth (IEG)
|Drivers of Change||Governance and capacity development (GCD)
|Gender Equity and Mainstreaming Categories||–|
|Type/Modality of Assistance||Approval Number||Source of Funding||Approved Amount (thousand)|
|Technical Assistance||8461||Technical Assistance Special Fund||400|
|During Project Design
Ministry of Finance was consulted during the project design.
|During Project Implementation
Regular meetings and consultations with EA and IAs are undertaken.
|The TA will help the government formulate strategies and implement concrete programs to promote SMEs access to finance by developing high yield bond market and appropriate investor protection mechanism. The TA will conduct a study on overall SME bond financing in PRC and international best practices to identify preconditions for successful development of high yield bond market. Based on this study, a roadmap for establishing effective policy measures will be prepared for high yield bond market development. Measures for diversifying and expanding investor base, building a proper legal framework, and designing a harmonized regulatory enforcement system will be explored and recommended. The TA will also explore possible investor protection mechanism through the comprehensive study on advanced economies with different legal system. Finally, the TA will also provide capacity building activities for relevant authorities and promote knowledge sharing through an international conference.|
|Increased access to finance for SMEs|
|Description of Outcome
Development of a high-yield bond market and an enhanced investor protection mechanism in the PRC
|Progress Towards Outcome
The TA is ongoing. The recruitment of 1 internatinoal consultant (teal leader) and 2 national consultants have been completed.
|Description of Project Outputs
Comprehensive report on innovative SME bond financing Road map with specific policy measures for development of high-yield bond markets, market infrastructure, and an appropriate legal and appropriate regulatory framework A research report on appropriate investor protection mechanisms for a high-yield bond market and policy recommendations Improved capacity of regulatory authorities to develop high-yield bond markets and investor protection mechanisms
|Status of Implementation Progress (Outputs, Activities, and Issues)
The consultants are mobilized. Inception meeting scheduled in April 2015.
|Status of Development Objectives
|Status of Operation / Construction
|Date of First Listing||2013 Sep 10|
The individual consultants two international (8 person-months in total, SME Bond Market Specialist and Capital Market Legal and Regulatory Specialist) and three national consultants (10 person-months in total, Bond Market Specialist, SME Finance Specialist, Financial Data and Information Analyst) will be individually selected and engaged by the Asian Development Bank (ADB) in accordance with the Guidelines on the Use of Consultants (2013, as amended from time to time) and arrangements satisfactory to ADB for the engagement of national consultants.
|Procurement and Consulting Notices
|Concept Clearance||05 Sep 2013|
|Fact-finding||13 Aug 2013|
|Management Review Meeting||–|
|Approval||25 Sep 2013|
|Technical Assistance 8461||25 Sep 2013||16 Jan 2014||16 Jan 2014||30 Jun 2015||–||–|
|Date||Approval Number||ADB (US$ thousand)||Others (US$ thousand)||Net Percentage|
|Cumulative Contract Awards|
|Approval Number||Approved Amount||Revised Amount||Total Commitment||Uncommitted Balance||Total Disbursement||Undisbursed Balance|
|Technical Assistance 8461||400||400||242||158||8||392|
|Responsible ADB Officer||Seung Min Lee ( @adb.org)|
|Responsible ADB Department||East Asia Department|
|Responsible ADB Divisions||Public Mgt, Financial Sector and Regional Coop Division, EARD|
|List of Project Documents||http://www.adb.org/projects/46023-001/documents|