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China To Quicken Special Bond Sales For Investment: News

CHINA PRESS
MNI (Singapore)

China will continue to accelerate the sales of infrastructure-back local government special bonds and ensure the issuance of all CNY3.65 trillion of such bonds by the end of September, Shanghai Securities News reported citing Vice Minister of Finance Xu Hongcai at a Tuesday briefing. About CNY1.25 trillion of such bonds were issued as of end-March, and local governments have overcome difficulties to kick off investment projects despite the epidemic, with 75% of the projects funded by the bond having started construction so far, the newspaper said citing Xu. There are 71,000 projects in reserve awaiting to be used, covering the areas of urban pipeline network, water conservancy, information infrastructure, grain warehousing and logistics facilities, the newspaper said citing officials.

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