Shanghai Plans to Issue 3 Billion Yuan of FTZ Municipal Bonds

(Shanghai) — Shanghai plans to issue 3 billion yuan ($443 million) of municipal debt in the city's free-trade zone in an attempt to attract more foreign investors.

The bonds, which will have a three-year maturity, are expected to be on the market by the end of November at the earliest, sources said. They will replace the government's other short-term liabilities that have high interest rates.