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China's Ministry of Finance To Back Shenzhen's Bond Issuance Plans

MNI (Singapore)

China's Ministry of Finance will support Shenzhen as it explores innovative fiscal policy and new management systems through measures to help the city meet housing demand and increase its local government bond issuance, according to a document released on the ministry's website. The central government will increase subsidies for the construction of affordable housing in Shenzhen from the central budget given the city's growing population, the document said. It will actively support new bond sales by Shenzhen to promote investment, and explore the establishment of a government debt repayment reserve system to prevent default risks.

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