Exclusive: Several Chinese Regions to Delay Savings Bond Issuances to Keep Covid at Bay

Several regions in China plan to suspend an issuance of a type of savings bond that requires buyers to be physically present at the bank when they purchase it, in a bid to control the spread of Covid-19, sources told Caixin, as the country faces its worst wave of outbreaks since the start of the pandemic.

The Ministry of Finance announced Thursday that it will issue a batch of three-year and five-year certificate savings bonds this Tuesday. However, multiple sources at financial institutions told Caixin that the issuance may be suspended in some regions as a way to avoid giving people a reason to leave their homes.