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Chinese Localities May Issue More Special Bonds In H2-Journal

CHINA PRESS
MNI (Singapore)

Local governments in China may use some of their remaining special bond quota in H2 to help boost infrastructure investment, as there is room for the issuance of over CNY1 trillion special bonds, the China Securities Journal reported, citing analysts. As of June, the level of outstanding local government special bonds nationwide stood at CNY20.26 trillion, compared to the government-set limit of CNY21.82 trillion, leaving room for ~CNY1.55 trillion of new special bonds to be issued, data compiled by the Ministry of Finance showed. Any such funds will still be mainly invested in infrastructure construction, after over 60% of the proceeds from special bonds issued in H1 went to infrastructure projects, the newspaper said, citing analysts.

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