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China to set 2020 local government bond quota earlier to boost investment

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Chinese authority calls for an acceleration of the issuance of special bonds by local governments and will front-load 2020 local government bond quotas to support investment of key projects, said the State Council in a meeting chaired by the Premier Li Keqiang on Wednesday.

Last December, the Standing Committee of the National People’s Congress (NPC) authorized the State Council to assign part of the newly-added quotas for local government bonds each year before the annual budget approval . . .

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