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Rising Local Govt Debt to Drive China Infra Invest: Newspaper

CHINA PRESS
MNI (Singapore)

China’s local government debt issued in January totalled CNY699 billion, a rise of CNY337 billion from January 2021, which promises to boost investments in infrastructure projects and support growth, the Securities Times said citing Wind data. The so-called special-purpose bonds, geared toward infrastructure building, accounted for 69.3%, with further CNY975.6 billion remaining to be issued in the first quarter, the newspaper said. With the rapid issuances of debt, China’s infrastructure investment may rise as much as 10% in the first half, the newspaper said citing economist Ming Ming of Citic Securities.

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