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Chinese local governments expected to issue about 800 billion yuan bonds in January

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Chinese local government bond issuance will surge early next year, to exceed 800 billion yuan in January, analysts estimate. The central bank is widely expected to cut banks' reserve requirement ratio (RRR) ahead of the Spring Festival to avoid a cash crunch.

Chinese Premier Li Keqiang recently said the government will study taking more measures to lower borrowing costs for smaller businesses, including broad-based and targeted RRR cuts.

"Premier Li's comment is not . . .

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