Chinese polluters, local government entities and companies in bloated industries will face a tougher time issuing bonds under new restrictions that the National Development and Reform Commission (NDRC) announced on Wednesday, Bloomberg reported. The NDRC, which approves bond sales by local governments and organizations, ordered that local government financing vehicles (LGFVs) that have asset-liability ratios greater than 65% or credit ratings less than AA+ be more strictly scrutinized when applying to issue bonds. The NDRC will also accelerate applications for major infrastructure and industry projects that it deems to be of high priority, such as those in environmental protection, alternative energy and affordable housing.