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China’s local government bond issuance hit new record high in May


China has accelerated local government bond issuance this year, with the issuance hitting a new record high in May, to boost investment and mitigate the impacts of the coronavirus pandemic.

Local governments issued a total of 1.3 trillion yuan bonds in May, the highest one-month amount on record, according to data from the Wind Information. The previous record was seen in April 2016 when local authorities issued 1.06 trillion yuan bonds.

The . . .

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