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China's Infrastructure Investment Likely Exceeds 10% In Q3-Times

CHINA PRESS
MNI (Singapore)

China’s infrastructure investment may grow over 10% y/y in Q3, supported by the expected use of over CNY2 trillion in local government special bonds, a CNY800 billion credit line of policy banks and CNY300 billion in financial bonds by policy banks, the Securities Times reported citing analysts. The issuance of a planned CNY3.65 trillion special bonds this year has basically been completed, much earlier than in previous years, which help to offset the decline in land sales revenue for local governments, the newspaper said citing analysts. As of June, local governments have issued CNY3.41 trillion of special bonds, with the issuance in June peaking at CNY1.37 trillion, the newspaper said citing data by the Ministry of Finance.

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