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FINANCE

China Extolls Turnpike Funding Rules as Driver of Fiscal Discipline

By Wang Xiaoxia and Aries Poon
China's ministries of finance and transport have said that national and provincial toll road construction now can be financed only through toll revenue bonds. Photo: Visual China
China's ministries of finance and transport have said that national and provincial toll road construction now can be financed only through toll revenue bonds. Photo: Visual China

(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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