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CHINA PRESS: China To Better Leverage Local Special Bonds

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

China has allowed local governments to invest in more areas with special bonds and expanded their use as project capital, Securities Daily reported citing a State Council document. Special bonds can be invested in projects as long as they’re not on the "negative list" published by the cabinet, the paper said. Meanwhile, the bonds can now be used as project capital for infrastructures for emerging industries such as information technology, new materials, and biomanufacturing. The cap for using it as project capital will be increased to 30% from 25% of the total bond quota allocated for project construction in each province, the document said.

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China has allowed local governments to invest in more areas with special bonds and expanded their use as project capital, Securities Daily reported citing a State Council document. Special bonds can be invested in projects as long as they’re not on the "negative list" published by the cabinet, the paper said. Meanwhile, the bonds can now be used as project capital for infrastructures for emerging industries such as information technology, new materials, and biomanufacturing. The cap for using it as project capital will be increased to 30% from 25% of the total bond quota allocated for project construction in each province, the document said.