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Local govt bond issues to rise this year
By CHEN JIA |
China Daily |
Updated: 2021-05-06 08:58
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Workers are busy at the construction site of a smart factory in the economic and technological development zone in Yinchuan, Northwest China s Ningxia Hui autonomous region, on May 1, 2021. [Photo/Xinhua]
Local government bond issuances are expected to hit a record this year as the government continues steps to stabilize infrastructure construction and spur economic growth, despite economic activity almost rebounding to the levels before the COVID-19 pandemic, experts said.
According to estimates from the National Debt Association of China and China Chengxin International Credit Rating, new local government bond issuances in the country are set to reach 4.62 trillion yuan ($714 billion) by the end of this year, with local government special-purpose bonds accounting for a substantial por ....

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