Is there a limit on the number of non-public issuance of corporate bonds, and what are the conditions?

Legal analysis: China's laws clearly stipulate that the cumulative number of securities issued to a specific object does not exceed 200, and the cumulative number of securities issued to a specific object exceeds 200, which is a public offering. The public offering of securities must meet the conditions stipulated by laws and administrative regulations, and shall be reported to the securities regulatory agency of the State Council or the department authorized by the State Council for approval according to law.

Legal basis: Article 10 of the Securities Law of People's Republic of China (PRC).

The public offering of securities must meet the conditions stipulated by laws and administrative regulations, and be reported to the securities regulatory agency of the State Council or the department authorized by the State Council for approval according to law; No unit or individual may publicly issue securities without approval according to law.

If more than 200 people issue securities to a specific object, it is a public offering.