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China Could Add Another CNY1 Trillion Debt-Swap Refinancing Bonds

CHINA PRESS
MNI (Singapore)

Chinese authorities will likely issue another CNY1-1.5 trillion special refinancing bonds to swap out more implicit local-government debt in 2024, said Feng Lin, senior analyst at Golden Credit Rating. Ming Ming, chief economist at CITIC Securities noted the upper limit of the issuance of special refinancing bonds this year is CNY1.43 trillion in theory, and any additional issuance would depend on debt-resolving progress. The State Council executive meeting said last Friday local-government debt risks have alleviated, laying a solid foundation for the next phase of work. (Source: Securities Daily)

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