China May Move Up Date for Local Bond Issuances
China may allow local governments to issue bonds earlier than usual next year, underlining the urgency to support the country’s cooling economic growth.
The Ministry of Finance typically starts granting quotas for the issuance of new local government bonds in April following the National People’s Congress (NPC), the country’s top legislature, approves the figures at their annual session in March. But in 2019, such quotas are expected to be granted in the first quarter, as early issuance will be discussed at meetings of the NPC Standing Committee, which are scheduled to take place this month, according to a proposed agenda (link in Chinese) of the legislature.
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