Chinese local governments received new quota of special-purpose bonds, issuance in May likely to hit new record

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China's central government has started allocating the additional 1 trillion yuan front-loaded quota of special-purpose bonds to local governments, in a move to boost infrastructure investment and short up the economy hit by the coronavirus outbreak.

"We have received the the third batch of quota and we are required to complete issuance of the special-purpose bonds by the end of May," said a person from the fiscal authority in a province in western China.

Another person from the fiscal authority of a province in central China has also confirmed that they . . .

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