China front-loads part of 2022 new local government bond quota

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China has front-loaded part of 2022 quota for newly-added local government bonds, as it did in the past three years, to accelerate bond issuance and boost infrastructure investment.

The Ministry of Finance has allocated part of newly-added local government bond quota to provincial fiscal authorities, including both general-purpose bonds and special-purpose bonds, first reported by the 21st Century Business Herald and confirmed by multiple sources close to local fiscal authorities . . .

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