China's local government special-purpose bond sales have been significantly slower than the previous two year, becoming a major factor dragging down growth of the country's infrastructure investment.
According to data released by the Ministry of Finance, Chinese local governments issued only 232 billion yuan of special-purpose bonds in the first four months of the year, which accounted for only 6.4 per cent of the annual quota approved by the legislature.
To continue reading, please subscribe and you will get:
- ORIGINAL, DATA-DRIVEN & IN-DEPTH STORIES
- THE WIRE - An all-in-one platform with up-to-the-minute updates of market-moving news and views sources via a network of journalists, traders, brokers, analysts, etc. and from multiple credible news outlets in mainland China. We The Wire 24/7, we walk you through every trading day in mainland China and Hong Kong.
- DETAILS - General information is everywhere, but information with details is rare.
- WEEKLY NEWSLETTER - A summary of the week's top news distilled into one email.
Already have an account? Sign In