Caixin View: Local Government Bond Market Gets a Boost
New rules from the Ministry of Finance will allow local governments to issue bonds with longer-dated maturities, in an effort to increase their appeal to institutional investors such as pension funds and insurance companies. This could make it easier for local authorities to refinance maturing bonds and issue new debt, especially after tightened regulations require them to reduce the mismatch between the maturity of their bonds and the underlying projects they are meant to fund.
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