China to resume issuance of medium-term commercial paper - central bank.

(From AFX Europe (Focus))

BEIJING (XFN-ASIA) - China will resume the issuance of medium-term commercial paper today in a move that appears to be aimed partly at supporting the nation's weak stock market.

The People's Bank of China said on its website that it will allow companies to issue commercial paper of maturities of up to five years. It had previously permitted such issuances in mid-April, but the business was abruptly halted in June.

Prior to that, the central bank allowed commercial paper issues of maturities of up to one year.

The central bank said in its latest statement that the National Association of Financial Market …