Xinjiang Tianshan Cement set to issue bonds

The board of China's Xinjiang Tianshan Cement has reviewed and approved a proposal to apply to the China Interbank Market Dealers’ Association for the registration of ultra-short-term financing bonds, with a total size of no more than CNY1bn (US$139.75m).

The plans have been put in place to reduce financing costs, expand financing channels and meet the company's development needs for capital, according to an announcement.