Caixin
Aug 15, 2018 07:18 PM
ECONOMY

As Growth Flags, Beijing Tells Local Officials to Speed Up Bond Sales

The Ministry of Finance has asked local governments to accelerate issuance of special-purpose bonds over the next three months. Photo:VCG
The Ministry of Finance has asked local governments to accelerate issuance of special-purpose bonds over the next three months. Photo:VCG

* Nearly 1 trillion yuan in bonds will need to be sold by local governments by the end of October

* Finance Ministry’s order follows a promise by the State Council late last month that the government will take a more-active fiscal policy stance and speed up the issuance of special bonds

(Beijing) — A deluge of local government bonds is set to hit the market over the next three months after the Ministry of Finance ordered officials to accelerate sales to fund infrastructure construction as policymakers step up efforts to bolster growth.

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