China grants local governments another 848 billion yuan bond quota

 

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China granted another 848 billion yuan quota of local government bonds before March, as the authorities seek to shore up the economy hit by the coronavirus outbreak.

The new quota includes 558 billion yuan of general-purpose bonds and 290 billion yuan of special-purpose bonds, said the Ministry of Finance in a statement on Tuesday.

Earlier, the ministry had allocated 1.29 trillion yuan bond quota, including 1 trillion yuan special-purpose bonds and 290 billion yuan general bond quota. The latter is mainly used to finance local infrastructure projects like highways and health . . .

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