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China to Sell CNY1.6 Tln LGB: Newspaper

CHINA PRESS
MNI (Sydney)

China's local government authorities are expected to sell 1.6 trillion bonds in August and September after a drop in June and July, according to Shanghai Securities News. Citing an estimate by Ming Ming, deputy head of research department at Citic Securities, the report said the suspension was due to the issuance of special China government bonds totalling CNY1 trillion and the PBOC had provided ample liquidity for banks to buy the bonds and ensure the stability of the bond market. Ming estimated that local government bond issuance in June would comprise 4.5% of full year issuance.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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