China Provinces Delay Some Special Bonds for 2022 Growth: Journal

At least five Chinese provinces have reserved some of their special bond quotas for issuance in December so that the proceedings can support next year's growth, seen as under more pressure to reach 5.5%, the potential growth expected in a normal Chinese economy, the China Securities Journal reported citing analysts. There could be more than CNY1 trillion of special bonds to be issued in Q4, with about CNY700 billion in December, the newspaper said citing Zhou Yue, chief fixed-income analyst of Zhongtai Securities. The Ministry of Finance may frontload some of 2022's special bond quotas by the end of this year to ensure the strength of investment is sustained through Q2 2022, the newspaper said citing Gao Ruidong, chief analyst with Everbright Securities.