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Chinese local governments’ bond quota this year nearly used up

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China’s local governments have almost used up their bond quotas for this year after the central government urged them to accelerate bond sales to support infrastructure investment and boost the economic growth.

Local governments issued 3.04 trillion yuan worth of new bonds in the first nine months of this year, according to the Ministry of Finance, which accounts for 98.6 per cent of the total new bond quota for the year approved by the National People’s . . .

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