China has set an annual quota of 3.65 trillion yuan for local government special bonds, which mainly fund infrastructure projects, this year. Photo: Xinhua
China has set an annual quota of 3.65 trillion yuan for local government special bonds, which mainly fund infrastructure projects, this year. Photo: Xinhua

China to accelerate US$224 billion of local bond issuance to support slowing economy

  • China has set an annual quota of 3.65 trillion yuan for local government special bonds, which mainly fund infrastructure projects, this year
  • China’s local governments issued a net 2.22 trillion yuan (US$347 billion) in special bonds in the first nine months of 2021, accounting for 61 per cent of the quota

China has set an annual quota of 3.65 trillion yuan for local government special bonds, which mainly fund infrastructure projects, this year. Photo: Xinhua
China has set an annual quota of 3.65 trillion yuan for local government special bonds, which mainly fund infrastructure projects, this year. Photo: Xinhua
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