It is reported that Ningxia Autonomous region-based Chinese domestic steelmaker Xining Special Steel Co announced that China Securities Regulatory Commission has approved the public issuance by the company of bonds worth not more than CNY 430 million.

The permission for the bond offering will be valid during 60 days from the date of announcement of approval of the offering.

In 2011, Xining Special Steel sales revenue reached CNY 8.1 billion up by 14.8%YoY while its total net profit amounted to CNY 530 million up by 66%YoY.

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(www.steelguru.com)