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MNI: China Speeds Up Special Bond Sales With June Target

MNI (Singapore)

Getting money into identified projects should happen by the end of August.

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China is accelerating the sale of local government special bonds to help boost infrastructure investment to turn around an economic slowdown, aiming to issue most of the annual quota of CNY3.65 trillion by the end of June, according to analysts.

Special bonds, to be repaid using income generated by the projects are seen as an important tool to drive investment and stabilise growth. Sales in May will exceed CNY600 billion to hit a new high this year, while that in June could reach as much as CNY1.42 trillion, according to a research note by China Industrial Secs.

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China is accelerating the sale of local government special bonds to help boost infrastructure investment to turn around an economic slowdown, aiming to issue most of the annual quota of CNY3.65 trillion by the end of June, according to analysts.

Special bonds, to be repaid using income generated by the projects are seen as an important tool to drive investment and stabilise growth. Sales in May will exceed CNY600 billion to hit a new high this year, while that in June could reach as much as CNY1.42 trillion, according to a research note by China Industrial Secs.

Keep reading...Show less