Chinese Local Governments Rush to Launch Infrastructure Projects to Utilize $137 Billion Sovereign Bond

Local governments in China are rushing to plan infrastructure projects to be funded by new sovereign debt issuance worth 1 trillion yuan ($137 billion) approved by the country’s top legislative body last week to support disaster relief and construction.

Hebei province held a meeting Sunday to accelerate its plans to utilize funds from the special bond issuance. Several counties held subsequent meetings on the implementation.