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Local Governments To Prepare 2024 Special Bond Projects

CHINA PRESS
MNI (Singapore)

Local governments have begun to prepare special bond projects in 2024 and they are allowed to expand the use of such bonds to invest in urban village renovation and affordable housing. The amount of new special bonds next year may be around CNY3.5 trillion and if 10% of it were prioritised to support these two areas, it could bring about CNY400 billion. Previously, special bond funds were forbidden to use in real estate-related fields, debt replacement and projects that can be fully commercialised. (Source: 21st Century Business Herald)

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