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China Local Governments Accelerate Bond Sales For Projects In Q1

CHINA PRESS
MNI (Singapore)

Local governments in China are planning to kick off major projects in Q1, with 16 provinces seeking to issue over CNY550 billion new infrastructure-back special bonds in Q1, China Securities Journal reported. This compares to a total of CNY36.4 billion of new local government bonds issued same period last year. Infrastructure investment is expected to grow 6.5% y/y in 2022 to drive the economy, the newspaper said citing analysts with CITIC Securities. Local authorities will increase project reserve and halve the processing time from approval to start of construction, with investment in new energy, green buildings, pipeline networks and parking lots to increase significantly, the newspaper said.

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