China to front-load another 1 trillion yuan quota for special-purpose bond, state planner defines "new infrastructure"

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China will front-load another 1 trillion yuan quota for local government special-purpose bonds in a move to boost infrastructure investment and short up the economy hit by the coronavirus outbreak.

China’s Ministry of Finance plans to issue another 1 trillion yuan ($141.3 billion) in advance quota for local government special bonds, debt which is used to fund major infrastructure projects, Wang Kebing, an official from the ministry, said at a press briefing on Monday.

"The finance ministry is currently working with local governments to match the quota with specific projects and . . .

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