China will allow local governments to use proceeds of special bonds as capital for more infrastructure projects, in a move to spur economic growth amid signs pointing to further economic slowdown.
Three months ago, China relaxed rules to allow local governments to use proceeds from special bond sales as capital for four types of investment projects including highways, railways, electricity and gas projects.
The relaxed rule will be applicable to projects in ten fields - railways, toll roads, airport express, inland . . .
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