Bonds to counteract virus fallout
4 years, 10 months ago

Bonds to counteract virus fallout

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. Details of one-time issuance expected to be released at National People's Congress meeting China is expected to release details of a special issuance of central government bonds during the upcoming annual session of the country's top legislature. It will be China's first offering of special treasuries since the global financial crisis, a one-off measure in the large fiscal stimulus package to counteract the economic fallout caused by the spread of the virus. "The monetization of fiscal deficit will ease the government's tight financing conditions and improve the efficiency of monetary policy," he said. Ma Jun, a member of the PBOC's monetary policy committee, disagreed with Liu's idea, calling it "direct printing of money" where fiscal bills never need to be paid.

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History of this topic

China targets 'proactive' fiscal policy
2 months, 3 weeks ago

China targets 'proactive' fiscal policy

China Daily  

China, with more forceful countercyclical adjustments in mind, will steer toward "very proactive" fiscal policy this year — including increasing the deficit-to-GDP ratio and issuing larger-scale government bonds, and will "front-load" its fiscal firepower to better underpin a positive economic growth trajectory, Vice-Minister of Finance Liao Min said on Friday. In particular, China's current real interest rate on government debt …

China targets 'proactive' fiscal policy
2 months, 3 weeks ago

China targets 'proactive' fiscal policy

China Daily  

China, with more forceful countercyclical adjustments in mind, will steer toward "very proactive" fiscal policy this year — including increasing the deficit-to-GDP ratio and issuing larger-scale government bonds, and will "front-load" its fiscal firepower to better underpin a positive economic growth trajectory, Vice-Minister of Finance Liao Min said on Friday. In particular, China's current real interest rate on government debt …

China beefs up fiscal support for disaster control, emergency management
3 months, 1 week ago

China beefs up fiscal support for disaster control, emergency management

China Daily  

BEIJING -- China has stepped up fiscal support for disaster control and emergency management, the country's finance minister said Sunday. From 2019 to 2023, China's general public budget spending on disaster prevention and reduction and emergency management reached 3.05 trillion yuan, with an average annual growth rate of 8.85 percent, said Finance Minister Lan Fo'an while delivering a report to …

China’s 10-year bond yields drop amid $1.4 billion debt refinancing program, more stimulus awaited
4 months, 3 weeks ago

China’s 10-year bond yields drop amid $1.4 billion debt refinancing program, more stimulus awaited

Live Mint  

Yield for China's benchmark 10-year bonds have slid to their lowest in over a month after the government announced its 10 trillion yuan or $1.4 billion worth debt refinancing programme, Bloomberg reported. China's Debt Refinancing Programme — The Details The announcement was made after the National People’s Congress Standing Committee meeting on November 8, to “underwhelmed” reactions, as per the …

China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth
4 months, 3 weeks ago

China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — China has approved a 10 trillion yuan plan to bolster its ailing economy by allowing local governments to refinance their debt, unveiling additional stimulus measures to counter a potentially …

China leverages fiscal toolbox to consolidate economic growth
4 months, 4 weeks ago

China leverages fiscal toolbox to consolidate economic growth

China Daily  

China has appropriately enhanced the intensity of the proactive fiscal policy so far this year, utilizing a combination of policy tools, including ultra-long special treasury bonds and tax and fee reductions to promote its sustained economic recovery. Some 700 billion yuan of funds raised via the ultra-long special treasury bonds have been allocated to support the implementation of major national …

Foreign holdings of Chinese bonds see net increase of $20b in July
7 months, 2 weeks ago

Foreign holdings of Chinese bonds see net increase of $20b in July

China Daily  

BEIJING - The net increase in foreign holdings of domestic bonds stood at $20 billion in July, soaring 1.4 times from the previous month, data from China's State Administration of Foreign Exchange showed Thursday. Foreign investors were still highly motivated to allocate RMB assets as cross-border capital flow improved in July, it said. China's foreign trade also continued to grow …

Foreign holdings of Chinese bonds see net increase of $20b in July
7 months, 2 weeks ago

Foreign holdings of Chinese bonds see net increase of $20b in July

China Daily  

BEIJING - The net increase in foreign holdings of domestic bonds stood at $20 billion in July, soaring 1.4 times from the previous month, data from China's State Administration of Foreign Exchange showed Thursday. Foreign investors were still highly motivated to allocate RMB assets as cross-border capital flow improved in July, it said. China's foreign trade also continued to grow …

China to step up fiscal policy implementation to spur economic recovery: official
8 months ago

China to step up fiscal policy implementation to spur economic recovery: official

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. The country will issue the ultra-long special treasury bonds in a timely manner and make good use of the funds raised from the bond sales, Lin Zechang, of the Ministry of Finance, told a press conference. Lin said that the country will also speed up the issuance …

Ultra-long special treasury bonds can promote quantitative growth
9 months, 2 weeks ago

Ultra-long special treasury bonds can promote quantitative growth

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. The Ministry of Finance recently, for the first time, issued 50-year ultra-long special treasury bonds, with a total issue of 35 billion yuan. In order to make up the gap of fiscal revenue and expenditure, it is necessary to increase the issuance of government bonds, …

Ultra-long special treasury bonds can promote quantitative growth
9 months, 2 weeks ago

Ultra-long special treasury bonds can promote quantitative growth

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. The Ministry of Finance recently, for the first time, issued 50-year ultra-long special treasury bonds, with a total issue of 35 billion yuan. In order to make up the gap of fiscal revenue and expenditure, it is necessary to increase the issuance of government bonds, …

【双语财讯】专家：发行超长期国债有助于刺激内需 支撑经济持续向好
10 months, 2 weeks ago

【双语财讯】专家：发行超长期国债有助于刺激内需 支撑经济持续向好

China Daily  

财政部将于5月17日起发行1万亿元超长期特别国债，到11月中旬发行完毕。专家表示，发行超长期国债将有助于稳定预期、刺激内需并支撑经济持续向好。 Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. 根据财政部5月13日发布的消息，1万亿元超长期特别国债将于5月17日首发，到11月中旬发行完毕，包括20年期、30年期和50年期。 "The ultra-long bond issuance marks the introduction of a new policy tool that will be vital for supporting the government's investment in key projects, which will give full play to the crucial role of government investment in shoring up economic growth," said Zhang …

【双语财讯】专家：发行超长期国债有助于刺激内需 支撑经济持续向好
10 months, 2 weeks ago

【双语财讯】专家：发行超长期国债有助于刺激内需 支撑经济持续向好

China Daily  

财政部将于5月17日起发行1万亿元超长期特别国债，到11月中旬发行完毕。专家表示，发行超长期国债将有助于稳定预期、刺激内需并支撑经济持续向好。 Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. 根据财政部5月13日发布的消息，1万亿元超长期特别国债将于5月17日首发，到11月中旬发行完毕，包括20年期、30年期和50年期。 "The ultra-long bond issuance marks the introduction of a new policy tool that will be vital for supporting the government's investment in key projects, which will give full play to the crucial role of government investment in shoring up economic growth," said Zhang …

China's new budget book reveals fiscal priorities for 2024
1 year ago

China's new budget book reveals fiscal priorities for 2024

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. Greater fiscal input The ultra-long special treasury bonds to be issued over each of the next several years, along with other arrangements including budget deficits, special-purpose bonds, preferential tax and fee policies as well as government subsidies, mark the country's strengthened fiscal …

Country's development potential continues to be released
1 year ago

Country's development potential continues to be released

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. In the first two months of this year, the total value of China's exports was $528.01 billion, up 7.1 percent year-on-year, and the total value of its imports was $402.85 billion, an increase of 3.5 percent compared with the same period last year. China's exports to the …

China weighs more stimulus, considers $139 billion of special bonds: Report
1 year, 2 months ago

China weighs more stimulus, considers $139 billion of special bonds: Report

Live Mint  

China is considering 1 trillion yuan of new debt issuance under a special sovereign bond plan - which will be only the fourth such sale in the past 26 years, according to a Bloomberg report. In that case, Beijing took the unusual step of raising 2023’s fiscal deficit ratio to about 3.8 per cent of gross domestic product — an …

China allocates 2nd batch of funds raised by 1-trillion-yuan additional govt bonds
1 year, 3 months ago

China allocates 2nd batch of funds raised by 1-trillion-yuan additional govt bonds

China Daily  

This aerial photo taken on Nov 8, 2023 shows a view of Hongze Lake in Huai'an, East China's Jiangsu province. BEIJING -- China has allocated the second batch of funds raised by the issuance of an additional 1-trillion-yuan of government bonds for flood control and other projects. The National Development and Reform Commission, the country's top economic planner, said Saturday …

The $2 trillion interest bill that’s hitting governments
1 year, 4 months ago

The $2 trillion interest bill that’s hitting governments

Live Mint  

The world spent the past decade-plus taking advantage of rock-bottom interest rates to binge on debt. Governments are expected to spend a net $2 trillion paying interest on their debt this year as higher interest rates make borrowing more expensive, up more than 10% from 2022, according to an analysis of International Monetary Fund data by research consulting firm Teal …

【双语财讯】我国将增发1万亿元特别国债
1 year, 5 months ago

【双语财讯】我国将增发1万亿元特别国债

China Daily  

中央财政将在今年四季度增发2023年国债10000亿元，增发的国债全部通过转移支付方式安排给地方，集中力量支持灾后恢复重建和弥补防灾减灾救灾短板，整体提升我国抵御自然灾害的能力。 A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. China has decided to issue 1 trillion yuan of special treasury bonds during the fourth quarter, expanding budgeted fiscal deficit rates to around 3.8 percent for the year, up from 3 percent. 根据全国人大常委会10月24日表决通过的这一方案，增发的国债全部通过转移支付方式安排给地方。 Around 500 billion yuan is planned to be utilized within the …

【双语财讯】我国将增发1万亿元特别国债
1 year, 5 months ago

【双语财讯】我国将增发1万亿元特别国债

China Daily  

中央财政将在今年四季度增发2023年国债10000亿元，增发的国债全部通过转移支付方式安排给地方，集中力量支持灾后恢复重建和弥补防灾减灾救灾短板，整体提升我国抵御自然灾害的能力。 A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. China has decided to issue 1 trillion yuan of special treasury bonds during the fourth quarter, expanding budgeted fiscal deficit rates to around 3.8 percent for the year, up from 3 percent. 根据全国人大常委会10月24日表决通过的这一方案，增发的国债全部通过转移支付方式安排给地方。 Around 500 billion yuan is planned to be utilized within the …

China's property sector support fails to lure bond investors
2 years, 3 months ago

China's property sector support fails to lure bond investors

Hindustan Times  

The battered bonds of Chinese property developers are showing tentative signs of a rebound after Beijing's measures to support the cash-strapped sector, but long-term investors are keeping away until they see signs of a deeper recovery. High-yield dollar-denominated bonds of companies such as Powerlong Real Estate Holdings and Country Garden Holdings have rallied since late November, cheered by the Chinese …

Xi’s Covid Zero Policy Prolongs Stress in China Real Estate Debt Market
2 years, 10 months ago

Xi’s Covid Zero Policy Prolongs Stress in China Real Estate Debt Market

Bloomberg  

Yields Top 22% as Covid-Zero Policy Stings China Dollar Bonds China Credit Tracker Share this article Fresh challenges are confronting Chinese borrowers in global debt markets after authorities doubled down on the nation’s Covid Zero policy. The focus remains on China’s offshore junk note market—dominated by property developers—after stress levels remained at their most elevated level in April, Bloomberg’s credit …

US stimulus may cause inflation across the world
3 years, 10 months ago

US stimulus may cause inflation across the world

China Daily  

Song Wei The steroid-driven US fiscal policy since the peak of the COVID-19 pandemic has caused a glut of US dollars in the financial markets. The previous US administration announced two stimulus packages, of $2 trillion and $900 billion, within six months last year. And while more funds are likely to be stuffed into Biden's $2.3 trillion infrastructure bill, the …

US stimulus may cause inflation across the world
3 years, 10 months ago

US stimulus may cause inflation across the world

China Daily  

Song Wei The steroid-driven US fiscal policy since the peak of the COVID-19 pandemic has caused a glut of US dollars in the financial markets. The previous US administration announced two stimulus packages, of $2 trillion and $900 billion, within six months last year. And while more funds are likely to be stuffed into Biden's $2.3 trillion infrastructure bill, the …

Economic recovery, firming renminbi fuel cash inflow
4 years, 1 month ago

Economic recovery, firming renminbi fuel cash inflow

China Daily  

A staff member wearing a face mask arranges stacks of Chinese yuan banknotes at a bank in Nantong, East China's Jiangsu province, on Jan 30, 2020. Overseas investors held a total of 3.06 trillion yuan of Chinese bonds in January, surging 62.09 percent from the same period last year, said China Central Depository Clearing Co Ltd. Growing appetite since 2020 …

Experts mull fiscal stimulus withdrawal
4 years, 2 months ago

Experts mull fiscal stimulus withdrawal

China Daily  

A staff member wearing a face mask arranges stacks of Chinese yuan banknotes at a bank in Nantong, East China's Jiangsu province, on Jan 30, 2020. Policy advisers agree on prevention of potential side-effects of tax measures A mechanism to withdraw special fiscal stimulus measures smoothly and gradually in the post-pandemic period is needed to stabilize market expectations and minimize …

China to stay on 'normal' policy path
4 years, 4 months ago

China to stay on 'normal' policy path

China Daily  

The People's Bank of China. PBOC report: Interest rates to be kept at low levels to support small firms China will maintain a normal monetary policy for as long as possible and keep interest rates at a relatively low level to support small business financing and maintain ample liquidity in the system, the People's Bank of China, the central bank, …

China unlikely to dilute fiscal stimulus package
4 years, 4 months ago

China unlikely to dilute fiscal stimulus package

China Daily  

A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. Policymakers are unlikely to make any changes to China's existing fiscal stimulus package next year, but may focus on additional steps to bolster economic recovery, especially to improve people's livelihood and save jobs, officials from the Ministry of Finance said on Thursday. More funds, especially …

Steady performance endorses prudent monetary policies
4 years, 8 months ago

Steady performance endorses prudent monetary policies

China Daily  

Pedestrians walk past the headquarters of the People's Bank of China, the country's central bank, on July 16. In contrast, the Federal Reserve Bank decided to increase the US M2 growth rate by more than 24 percent in the second quarter, compared to an average of 5-7 percent in recent years. Because of high money supply growth rates, many economists …

Govt may need RBI's help to fund budget deficit amid economic crisis: Report
4 years, 8 months ago

Govt may need RBI's help to fund budget deficit amid economic crisis: Report

India Today  

With the fiscal deficit already touching as high as 7 per cent of the GDP, the government has little room increase spending during the economic crisis. According to the report, the central bank may be asked by the administration to buy sovereign bonds directly or boost dividends to help generate additional revenue. The threat of another ratings downgrade looms large …

Foreign investors raise allocations for Chinese bonds
4 years, 9 months ago

Foreign investors raise allocations for Chinese bonds

China Daily  

An employee of Lin'an Rural Commercial Bank counts banknotes at the bank's branch in Hangzhou, capital of Zhejiang province, on Feb 25. Foreign investors are increasing fund allocations in China's booming government bond market, in anticipation of higher returns at a time when central banks in developed markets are further slashing rates, experts said. Local government bond issuances in May …

China to accelerate issuance, use of local government bonds
4 years, 9 months ago

China to accelerate issuance, use of local government bonds

China Daily  

The Ministry of Finance on June 8 called for efforts to expedite the issuance of local government bonds and accelerate use of the funds raised from those bonds. Funds raised from special local government bonds should primarily be used to invest in major sectors and major projects, according to a statement issued by the ministry after a national meeting of …

今年我国将实行积极的财政政策来对抗疫情冲击
4 years, 10 months ago

今年我国将实行积极的财政政策来对抗疫情冲击

China Daily  

政府工作报告指出，今年积极的财政政策要更加积极有为，财政赤字规模比去年增加1万亿元，并将发行1万亿元抗疫特别国债。专家表示，中国可以灵活使用各种财政和货币政策来对抗疫情的冲击。 A clerk counts cash at a bank in Huaibei, Anhui province. To counter the economic shocks caused by the novel coronavirus outbreak, China will rely on extensive fiscal measures and maintain a flexible stance on monetary policy, according to signals in the Government Work Report and the annual fiscal budget arrangement. 根据政府工作报告和年度财政预算报告释放出的信号，为了对抗新冠肺炎暴发对经济造成的冲击，中国将借助大量的财政措施并保持灵活的货币政策。 The Government Work Report, delivered by Premier …

Bonds to counteract virus fallout
4 years, 10 months ago

Bonds to counteract virus fallout

China Daily  

A clerk counts cash at a bank in Natong, South China's Jiangsu province. China is expected to release details of a special issuance of central government bonds during the upcoming annual session of the country's top legislature. It will be China's first offering of special treasuries since the global financial crisis, a one-off measure in the large fiscal stimulus package …

China weighs new fiscal stimulus plan
4 years, 11 months ago

China weighs new fiscal stimulus plan

China Daily  

A teller counts cash at a bank branch in Hangzhou, capital of East China's Zhejiang province. According to the experts, key to the new package would be central government special bonds, or treasury bonds, to support consumption, roll over business loans and facilitate working capital for small and medium-sized banks. "Money raised through the nation's special treasury bonds can be …

China weighs new fiscal stimulus plan
4 years, 11 months ago

China weighs new fiscal stimulus plan

China Daily  

A teller counts cash at a bank branch in Hangzhou, capital of East China's Zhejiang province. According to the experts, key to the new package would be central government special bonds, or treasury bonds, to support consumption, roll over business loans and facilitate working capital for small and medium-sized banks. "Money raised through the nation's special treasury bonds can be …

China's coronavirus stimulus opts for coupons in a world awash with cash handouts — why?
4 years, 11 months ago

China's coronavirus stimulus opts for coupons in a world awash with cash handouts — why?

ABC  

China is no stranger to a cashless economy, and that now extends to its coronavirus economic recovery. Key points: China so far has avoided a direct cash stimulus in the wake of coronavirus Local governments have stepped in, issuing coupons that only work for specific purchases Both Australia and China run schemes that direct people to spend in specific ways …

Deficit funding to rate cuts are RBI’s Shaktikanta Das options to fight COVID-19
4 years, 11 months ago

Deficit funding to rate cuts are RBI’s Shaktikanta Das options to fight COVID-19

Live Mint  

India’s central bank has a number of policy options to draw upon to cushion the economic blow from the coronavirus pandemic. Rate cuts Das said last week he expects inflation, which spiked above 7% at the end of last year, to ease below a 4% medium-term target in coming months, giving the RBI room to act. The central bank has …

China's central bank cuts medium-term borrowing costs by 20 bps; steps up fight against coronavirus pandemic
4 years, 11 months ago

China's central bank cuts medium-term borrowing costs by 20 bps; steps up fight against coronavirus pandemic

Firstpost  

The People’s Bank of China said it was lowering the one-year medium-term lending facility loans to financial institutions to 2.95 percent, the lowest level since the liquidity tool was introduced in September 2014, down 20 basis point from 3.15 percent previously. Shanghai: China’s central bank on Wednesday cut the interest rate on its medium-term funding for financial institutions to the …

China's development, policy financial institutions issue more bonds amid support for economy
4 years, 11 months ago

China's development, policy financial institutions issue more bonds amid support for economy

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing, China, March 30, 2016. BEIJING - China's major development and policy financial institutions have increased bond issuance to replenish their capital while they provide more loans to support the economy against the shock from the COVID-19 epidemic, latest data showed. In March, the China Development …

Coronavirus: Asian Development Bank triples rescue package to $20 billion
4 years, 11 months ago

Coronavirus: Asian Development Bank triples rescue package to $20 billion

Live Mint  

The Asian Development Bank is tripling the amount of quick-disbursing loans available to developing member countries in Asia to $20 billion to help them battle the economic and health effects of the coronavirus pandemic, its president said. President Masatsugu Asakawa said the ADB was adding $13.5 billion to the initial $6.5 billion package it announced last month because the economic …

Investors take a shine to China bonds
4 years, 11 months ago

Investors take a shine to China bonds

China Daily  

A teller counts cash at a bank outlet in Taiyuan, capital of Shanxi province. Quest for safe-haven assets triggers huge trade in yuan-based instruments Global investors traded record volumes of Chinese bonds during the first three months of this year amid the novel coronavirus outbreak and the quest for safe haven investments with nominal yields and a relatively stable currency, …

Japan calls coronavirus pandemic ‘biggest crisis’ since world war
4 years, 11 months ago

Japan calls coronavirus pandemic ‘biggest crisis’ since world war

Al Jazeera  

Japanese Prime Minister Shinzo Abe’s government is to pledge to take “all steps” encompassing fiscal, monetary and tax policies to battle the deepening fallout from the coronavirus in a stimulus package to be approved on Tuesday, a draft document reviewed by Reuters news agency showed. Abe has pledged to craft an “unprecedented” stimulus package to respond to the global downturn …

每日一词∣特别国债 special treasury bonds
5 years ago

每日一词∣特别国债 special treasury bonds

China Daily  

3月27日，中共中央总书记习近平主持召开中共中央政治局会议，分析新冠肺炎疫情防控和经济运行形势。会议指出，要抓紧研究提出一揽子宏观政策措施，适当提高财政赤字率，发行特别国债，增加地方政府专项债券规模，引导贷款市场利率下行。 Xi Jinping, general secretary of the Communist Party of China Central Committee, on Friday chaired the meeting of the Political Bureau of the CPC Central Committee to analyze the COVID-19 response and economic performance. A package of macro policies and measures will be introduced, the meeting noted, and China will appropriately raise the fiscal deficit ratio, issue special treasury …

每日一词∣特别国债 special treasury bonds
5 years ago

每日一词∣特别国债 special treasury bonds

China Daily  

3月27日，中共中央总书记习近平主持召开中共中央政治局会议，分析新冠肺炎疫情防控和经济运行形势。会议指出，要抓紧研究提出一揽子宏观政策措施，适当提高财政赤字率，发行特别国债，增加地方政府专项债券规模，引导贷款市场利率下行。 Xi Jinping, general secretary of the Communist Party of China Central Committee, on Friday chaired the meeting of the Political Bureau of the CPC Central Committee to analyze the COVID-19 response and economic performance. A package of macro policies and measures will be introduced, the meeting noted, and China will appropriately raise the fiscal deficit ratio, issue special treasury …

Pandemic bonds prove good for investors, less so for nations
5 years ago

Pandemic bonds prove good for investors, less so for nations

Associated Press  

LONDON — To offset the crushing costs of trying to stem a global epidemic, the World Bank and partners announced the creation of “pandemic bonds” several years ago: the idea was to leverage private capital from Wall Street firms that would help stricken poor countries. Former World Bank chief economist Lawrence Summers has described the bonds as “financial goofiness.” The …

These bonds were supposed to help fight diseases like coronavirus. They’ve never paid out
5 years, 1 month ago

These bonds were supposed to help fight diseases like coronavirus. They’ve never paid out

CNN  

London CNN Business — Three years ago, the World Bank issued new bonds to raise funds that could be used to help poor countries fight pandemics. Investors are now preparing for the possibility that the outbreak of the novel coronavirus in China will continue to spread, triggering a payout to the World Bank’s Pandemic Emergency Financing Facility. Former World Bank …

Chinese central bank to pump $173 billion into economy in coronavirus fight
5 years, 2 months ago

Chinese central bank to pump $173 billion into economy in coronavirus fight

Live Mint  

China's central bank said Sunday it would pump 1.2 trillion yuan into the economy as it ramps up support for a nationwide fight against a deadly virus that is expected to hit growth. The People's Bank of China said in a statement it would launch a 1.2 trillion yuan reverse repurchase operation on Monday to maintain "reasonable and abundant liquidity" …

China's local govt slows debt issuance
7 years, 10 months ago

China's local govt slows debt issuance

China Daily  

BEIJING - Local governments have issued less debt this year following measures to ease the country's mounting debt burden, data showed Tuesday. In the first four months of 2017, local governments raised 799.4 billion yuan through 178 instances of debt issuance, down from the 2.02 trillion yuan raised in 296 issuances a year ago, according to data compiled by Wind, …

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