More Banks Said to Be Allowed to Buy Special Bonds for Building Projects

(Beijing) – More banks and other financial institutions will be able to buy special bonds issued by policy banks to finance infrastructure projects and the Postal Savings Bank of China alone will invest 200 billion yuan, a person with knowledge of the matter says.

In August, China rolled out the special government-subsidized program, channeling funds from the Postal Savings Bank to support fixed-asset investment by arranging for it to buy bonds issued by two policy lenders, the China Development Bank and the Agricultural Development Bank of China.