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Over CNY1 Trillion Special Refinancing Bonds Expected

CHINA PRESS
MNI (Singapore)

Up to 26 provinces have disclosed plans to issue special refinancing bonds to swap out off-balance sheet debts, with the total volume reaching CNY1.26 trillion, according to the calculations of Securities Daily. Guizhou province temporarily ranks first with a scale of CNY144.8 billion, followed by Yunnan, Hunan, Inner Mongolia and Liaoning which have over CNY100 billion to issue each. The People’s Bank of China will likely cut the reserve requirement ratio in Q4 to support bond sales and credit expansion, said Li Mingjin, senior investment consultant at Shaanxi Jufeng Investment, who does not rule out the possibility of an interest rate cut.

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