Dec 14, 2023 05:38 AM

FINANCE

Local Governments Tap $29 Billion Special Bonds to Fund Smaller Banks

By Xia Yining and Han Wei

00:00

00:00/00:00

Listen to this article 1x

Shandong province issued 25-billion-yuan special bonds for primary capital replenishment of four city commercial banks and 80 rural commercial banks, including 2.2 billion yuan to be injected into Dongying Bank

Shandong province issued 25-billion-yuan special bonds for primary capital replenishment of four city commercial banks and 80 rural commercial banks, including 2.2 billion yuan to be injected into Dongying Bank

Chinese local authorities have stepped up bond sales to assist small and midsize banks in supplementing capital to mitigate risks to the financial system, as narrowing margins squeeze lenders.

Local governments of 16 provinces and regions have issued 19 special purpose bonds designed to inject liquidity into banks as of Dec.11, worth a total of 208.3 billion yuan ($29 billion), according to data from bond market database ChinaBond.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Innovation Takes Off at Flying Vehicle Expo

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Deep Dive: How China’s Crypto Ban Makes Disposing of Seized Assets a Lot Harder

00:00

00:00/00:00

MOST POPULAR

1: Meituan Enters Open-Source AI Race With LongCat Model

2: Ex-UBS Banker in Hong Kong Jailed 10 Years for Laundering $17.2 Million

3: Chinese Regions Dial Back Car Subsidies as Funds Dry Up

4: Alipay Fined by Luxembourg Regulator for Anti-Money Laundering Breaches

5: China Slaps Up to 78% Tariffs on U.S. Fiber Optic Imports in First-Ever Anti-Circumvention Case

SPONSORED

OR