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China Local Bond Sales Peak In June-Journal

MNI (Singapore)

The sales of Chinese local government bonds in June is expected to reach a single-month record high of CNY1.93 trillion, in a bid to help stabilise the economy, the China Securities Journal reported. The weekly issuance had exceeded CNY500 billion over the past three weeks, which is rare, the newspaper said citing analysts. So far this year, a total CNY5.25 trillion of local government bonds have been issued, the newspaper said. For H2, policymakers should consider front-loading some quota of next year’s local government special bonds to this year, as Minister of Finance Liu Kun previously pledged to plan incremental policies and intensify macro policies, the newspaper said citing analysts.

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