China moves to hasten USD142 bn bond sale (to boost economy)

Author: Eamonn Sheridan | Category: News

Bloomberg posted on this, 

  • China has ordered local governments to speed up the issuance of debt 
  • the debt is to be used for infrastructure projects
  • proceeds to be invested early in 2020 to help shore up the slowing economy
  • All localities are required to allocate the recently issued "special bond" quota of 1 trillion yuan ($142 billion) "as soon as possible" to specific projects, the Ministry of Finance said in a statement late Wednesday. 
  • There were no details on when the sales will actually begin, or what the total quota for 2020 will be.

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