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China To Increase Funding Support For Urban Renewal

CHINA PRESS
MNI (Singapore)

The Chinese government has provided fiscal subsidies to the first batch of 15 cities for urban renewals, with projects including urban village renovation and the renewals of underground pipe and sewage networks accelerating, Economic Information Daily reported. The CNY1 trillion ultra-long-term special treasury bonds issued in May also include and fund some of the projects, the daily said. Meanwhile, some local governments have offered loan interest discounts to leverage more private capital to participate in urban renewals, the newspaper added.

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