China has relaxed funding rules for infrastructure projects and allows local governments to use proceeds from special bonds as capital for major investment projects, in a move to boost the slowing economy amid a bitter trade war with the United States.
Local governments are now allowed to use proceeds from special bonds for major infrastructure projects including highways, railways, electricity and gas projects, in a move to “increase effective investment, improve economic structure, stabilize aggregate demand and maintain sustained and healthy economic development,while putting governments’ hidden debts under check”, said the State Council, China's cabinet, in a statement . . .
To continue reading, please subscribe.
We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you. Don't miss out!
What you'll get:
- Original and in-depth reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
- Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related information.
- Weekly Market Wrap-up on Chinese equities, bonds, the yuan and commodities!
- Interviews with China experts. We find you insights you should never miss!
Not ready for the full service? Subscribe to our Free Weekly Newsletter first.
Already have an account? Sign In