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China Accelerates Special Bond Sales for Infrastructure Push: Journal

CHINA PRESS
MNI (Singapore)

Chinese local governments are expected to issue over CNY430 billion of special-purpose bonds in March to help advance infrastructure investment to stabilize economic growth, the China Securities Journal reported citing Gao Ruidong, chief economist at Everbright Securities. The issuance of such bonds has been significantly accelerated with a total of CNY877.5 billion sold in the first two months, the newspaper said. Among all, over CNY470 billion were invested in infrastructure projects mainly in the areas of municipal facilities, transportation, water conservancy and environmental protection, which largely increased compared to last Q4, the newspaper cited Gao as saying.

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