Chinese local governments start to apply for funding of special treasury bonds

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A number of Chinese local governments have submitted applications for funding of the anti-epidemic special treasury bonds, according to several sources in local fiscal authorities.

China plans to issued 1 trillion yuan anti-epidemic special treasury bonds this year, the country's first issuance of the bonds since 2007.

According to official statement, the proceeds of the bonds will be mainly used to offset the impact of the coronavirus outbreak. The funds will be entirely transferred to local governments for them to invest in public health related projects and pay for other coronavirus control . . .

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