Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Economy

China to allocate another 1-trln-yuan local gov't bond quota

April 21, 2020


Abstract : The Chinese government has mulled allocating an additional quota of 1 trillion yuan (about 141.52 billion U.S. dollars) in advance for the issuance of local government special bonds, said the Ministry of Finance (MOF).

BEIJING, April 20 (Xinhua) --The Chinese government has mulled allocating an additional quota of 1 trillion yuan (about 141.52 billion U.S. dollars) in advance for the issuance of local government special bonds, said the Ministry of Finance (MOF).

The ministry will work to conclude the bond issuance by the end of May in a bid to shore up the economy, MOF official Wang Kebing told a press conference on Monday.

The value of new local government bonds issued nationwide had totaled 1.57 trillion yuan as of April 15, accounting for 85 percent of the quota allocated ahead of schedule, Wang said.

As of April 15, a total of 1.16 trillion yuan of new special bonds had been issued by local governments, mainly for new and under-construction projects, according to Wang.

Infrastructure construction has gathered pace across China as the government ramped up funding to spur investment in the sector, earlier industrial data showed. Enditem

Scan the QR code and push it to your mobile phone

Keyword: work resumption policy local government special bonds

Reading:

China strengthens border control to prevent imported COVID-19 risk

China's BGI helps Serbia build automated COVID-19 testing lab

Hebi eco-tech dev. zone recruits overseas investment online

International economic, trade, tourism festival spurs dev. of E China's Yangzhou

Pinduoduo invests 200 mln USD in home appliance retailer Gome through convertible bond issue

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial