More Local Government Bond Issuances May Make Corporate Fundraising Harder
The issuance of local government bonds increased for at least the third straight month in May, market data showed, fueling concerns that the boom may siphon funds available for investment in corporate debt and worsen the already tight credit environment for companies.
A total 355.3 billion yuan ($55.5 billion) in local government bonds was issued in May, the third consecutive month that the figure has risen from the previous month, according to data provider iFin. January’s figure was unavailable. But bond offerings in that month are usually low because local governments have yet to finalize their annual budgets.
- 1Caixin View: China Feels Chill From Trouble in Turkey
- 285-Year-Old Petitioner, in Poor Health, Denied Parole
- 3In Depth: HNA Charts New Course Back to Airline Basics
- 4On Beijing’s Orders, Tsinghua May Give Up Control of Chipmaker Units
- 5Banned From Planes and Trains, Jia Yueting Hands Over U.S. Car Startup’s China Business
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas