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China Local Bond Sales for Infrastructure Surge in Q3: Times

CHINA PRESS
MNI (Beijing)

China's local governments are expected to significantly increase the selling of the so-called special-purpose bonds to invest more in infrastructure in the third quarter, the Securities Times reported citing industry insiders. As of July 12, disclosed offerings of Q3 special-purpose bonds totaled CNY1.3 trillion, compared with CNY1 trillion for the first half, the newspaper said citing Ministry of Finance data. The special-purpose bonds will provide the fiscal stimulus to prop up growth as the previous drivers of exports and real estate began to weaken, the newspaper said citing economists.

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