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China May Ramp Up Local Gov Debt Sales In H2-Yicai

CHINA PRESS
MNI (Singapore)

China is likely to front-load next year’s local government special bond quota in the second half of the year to help boost infrastructure investment, as monetary policy is difficult to ease significantly amid rising inflation and the rate hikes overseas, Yicai.com reported citing analysts. CPI may be pushed above the 3% ceiling in some months in H2, with pork prices entering an upward cycle, though weak consumption and the recent correction in oil prices may help to ease some upward pressure, the newspaper said citing analysts. There is discussion in the markets that the Ministry of Finance may be considering bringing forward the issuance of CNY1.5 trillion of next year’s special bonds to this year, Yicai added.

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