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CHINA URGES FASTER LOCAL BOND ISSUANCES

CHINA PRESS
MNI (Sydney)

China's Ministry of Finance has urged officials to complete the

issuance of new local government special bonds by the end

of October, the Securities Daily reported. Provincial governments

are given the autonomy to allocate the funds to speed up projects

that support urban renewal and the construction of public health

facilities as a priority, the newspaper said citing a document from the

Ministry. Local authorities must use the funds for public welfare

projects that generate returns and are banned from rolling over existing

debts or paying the salaries of civil servants, the document read.

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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