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Local Government Urged To Accelerate Special Bond Sales

CHINA PRESS
MNI (Singapore)

Authorities will require local governments to issue all CNY3.8 trillion of special bonds set for this year before the end of September and use them before the end of October, according to unnamed sources at local finance departments and local bond underwriters. This means the average monthly issuance scale in August and September will reach CNY670 billion, as local governments hold CNY1.34 trillion in their remaining quota after a total of CNY2.36 trillion were sold for project construction so far this year. About CNY100 billion is reserved for small and medium-sized banks, which has not been subjected to the issuance time limit in the past. (Source: 21st Century Business Herald)

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