China told local governments to finish bond sales by end-Oct, released "negative list" for using special-purpose bonds

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China's Ministry of Finance said local governments are required to complete the issuance of this year's special-purpose bonds by the end of October, according to a statement released on Wednesday.

In order to offset the impact of the coronavirus outbreak, China's top policymakers increased this year's quota of new local government special-purpose bonds to 3.75 trillion yuan from 2.15 trillion yuan in 2019.

As of July 14, local governments had issued a total of 2.24 trillion yuan new special-purpose bonds, leaving . . .

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