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
China’s state sector came to the rescue in the 2008 financial crisis to ensure that employment levels were maintained even as global trade was collapsing. Photo: AFP
Can China count on its SOEs to boost ailing employment amid US-China trade war?
- China’s state-owned enterprises came to the rescue in the 2008 financial crisis to ensure that employment levels were maintained even as global trade was collapsing
- Salary cuts and lay-offs are on the rise in manufacturing and technology-related industries, but China wants to create 11 million new urban jobs this year
Topic |
China economy
China’s state sector came to the rescue in the 2008 financial crisis to ensure that employment levels were maintained even as global trade was collapsing. Photo: AFP