China Extolls Turnpike Funding Rules as Driver of Fiscal Discipline
(Beijing) — Toll revenue bonds are China’s latest attempt to improve fiscal discipline of municipal and city governments.
As of now, the construction of national and provincial turnpikes can be financed only by this type of debt, in which the principal and interest repayments are supplied by revenues from tolls paid by users, the ministries of finance and transport said in a joint statement Wednesday.
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