China Boosts Local Government Special Bonds

China’s Ministry of Finance has allocated 1.46 trillion yuan ($229 billion) from its 2022 quota for local government special bonds to boost local infrastructure investment, Xinhua reported.

Characterising the country’s proactive fiscal policy, the advance allocation is aimed to mitigate economic pressure in the first quarter of next year, finance vice-minister Xu Hongcai said.

Read the full report: Xinhua.

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.