Caixin
Oct 13, 2022 07:34 PM
ECONOMY

Chinese Local Governments Sell More Bonds for Infrastructure Stimulus

The State Council in August told local governments to use more than $70 billion in unused SPB quotas for investing in infrastructure. Photo: The Paper
The State Council in August told local governments to use more than $70 billion in unused SPB quotas for investing in infrastructure. Photo: The Paper

Around 20 localities in China are utilizing extra government bonds this year to finance infrastructure projects, in yet another round of efforts to boost the country’s slowing economy.

As of this week, at least 19 cities and provincial-level regions have announced their available unused special-purpose bond (SPB) quotas. The moves follow the State Council’s instruction in August for local governments to use more than 500 billion yuan ($70 billion) in unused SPB quotas for investing in infrastructure.

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