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CHINA PRESS: China Unlikely To Use Special Treasuries For Local Debt

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

China is likely to issue new local government bonds to swap out local debt rather than special treasury bonds, according to Mingming, chief economist at CITIC Securities. According to Xinhua, a state media outlet, China’s Standing Committee of the 14th National People's Congress had recently deliberated on the State Council's proposal to increase the local government debt limit to replace the implicit debt, Ming noted. Wen Laicheng, a professor at the Central University of Finance and Economics, said using local government bonds could reduce debt costs and risks whilst avoiding the moral hazard of centrally backed special treasury bonds. (Source: 21st Century Herald)

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China is likely to issue new local government bonds to swap out local debt rather than special treasury bonds, according to Mingming, chief economist at CITIC Securities. According to Xinhua, a state media outlet, China’s Standing Committee of the 14th National People's Congress had recently deliberated on the State Council's proposal to increase the local government debt limit to replace the implicit debt, Ming noted. Wen Laicheng, a professor at the Central University of Finance and Economics, said using local government bonds could reduce debt costs and risks whilst avoiding the moral hazard of centrally backed special treasury bonds. (Source: 21st Century Herald)