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MNI BRIEF: China Accelerates Bond Sales To Fund Infrastructure

MNI (Singapore)
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China will accelerate the issuance of an estimated CNY3.65 trillion in local government special bonds by the end of June to boost infrastructure investment and help stabilise economic growth, said Ou Wenhan, Assistant Minister of Finance at a briefing on Thursday.

Local governments should strive to use all such bonds by end-August, focusing on funding technology-based infrastructure and new energy projects, and prioritising mature projects to get work started quickly, according to Ou. In the first five months of this year, a total CNY2.03 trillion of such bonds were sold, Ou added. SEE: MNI: China Speeds Up Special Bond Sales With June Target

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China will accelerate the issuance of an estimated CNY3.65 trillion in local government special bonds by the end of June to boost infrastructure investment and help stabilise economic growth, said Ou Wenhan, Assistant Minister of Finance at a briefing on Thursday.

Local governments should strive to use all such bonds by end-August, focusing on funding technology-based infrastructure and new energy projects, and prioritising mature projects to get work started quickly, according to Ou. In the first five months of this year, a total CNY2.03 trillion of such bonds were sold, Ou added. SEE: MNI: China Speeds Up Special Bond Sales With June Target