For Stimulus Projects, a Capital Conundrum

(Beijing) – Happy days are here again by some accounts as local governments across China lay the groundwork for what could be a huge spending spree.

Municipal bond investors and trust managers are among those enthusiastic about plans for a government investment push which, although minor compared to the 4 trillion yuan stimulus package rolled out after the 2008 financial crisis, has been touted as rocket fuel for China's slowing economy.