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China relaxes funding rules to boost support for infrastructure projects

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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 . . .

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