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China Will Quicken Special Bond Sales To Boost Investment

CHINA PRESS
MNI (Singapore)

China will accelerate the issuance and use of local government special bonds to promote investment and stabilise economic growth, ensuring that all CNY3.65 trillion in new special bonds this year are sold by end-June and basically used by end-August, according to a statement on the Ministry of Finance website, citing a meeting chaired by Finance Minister Liu Kun. As of May 27, a total of CNY1.85 trillion of new special bonds had been issued, an increase of CNY1.36 trillion over the same period last year, the statement said. China will increase value-added tax refunds and review to include more industries, and quicken fiscal spending, the statement said.

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