The bonds will be used to fund construction projects in Ningbo, Sichuan, Zhejiang, Shanxi, Shandong and Beijing. Photo: Xinhua
China looks to individual retail investors to raise local construction funds amid economic slowdown
- Pilot programme launched in Ningbo, Sichuan, Zhejiang, Shanxi, Shandong and Beijing to sell local government bonds at bank counters and via internet banking
- Port city of Ningbo sells 300 million yuan (US$45 million) on Monday, with annual interest rate for the three-year bond set at 3.04 per cent
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China economy
The bonds will be used to fund construction projects in Ningbo, Sichuan, Zhejiang, Shanxi, Shandong and Beijing. Photo: Xinhua