China Accelerates Financial Bonds To Project Construction-Daily

Major projects in serval provinces including Jiangsu and Zhejiang have received funding support from financial bonds by policy banks to accelerate construction, in a bid to help stabilize economic growth, Securities Daily reported. A total CNY300 billion of financial bonds approved earlier can leverage as much as CNY1.5 trillion supporting funds for project construction, the newspaper said citing Wang Qing, analyst with Golden Credit Rating. Coupled with CNY800 billion credit line of policy banks, this round of financial instruments can drive up to CNY2.6 trillion of incremental funds for projects in H2, the newspaper said citing Wang. Fixed-asset investment this year can be accelerated by about 4.8 percentage points from 2021’s 4.9% should the above policy tools are fully utilized, Wang was cited as saying.