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China issued 1.77 trillion yuan quota of new special-purpose bonds to local governments, first batch of bond sales expected this month

China's Ministry of Finance has issued 1.77 trillion yuan quota of new special-purpose bonds to local governments, and has asked them to allocate the quota to specific projects as soon as possible, according to the state-run China Securities Journal.

Analysts expect local governments to start issuing the first batch of the bonds by the end of March and the size of sales is expected to increase in the coming months. In the past . . .

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