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