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"To spur infrastructure-fuelled economic growth in the face of a property-market crisis and mounting debt pressure," SCMP writes, "local governments across China are expected to use up a record annual quota on special-purpose bond sales."
sc.mp
"To spur infrastructure-fuelled economic growth in the face of a property-market crisis and mounting debt pressure," SCMP writes, "local governments across China are expected to use up a record annual quota on special-purpose bond sales."
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The SCMP article further notes: "For 2023, Chinaβs local governments were allocated an all-time-high quota of 3.8 trillion yuan worth of such bonds, which are often used to finance large-scale construction projects."
The SCMP article further notes: "For 2023, Chinaβs local governments were allocated an all-time-high quota of 3.8 trillion yuan worth of such bonds, which are often used to finance large-scale construction projects."
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Finally: "On Monday, Finance Minister Liu Kun said that the goal is to complete the issuance of the entire 2023 quota by September, with the designated proceeds spent by the end of October."
It seems that we can expect a mini stimulus, via a boost in infrastructure...
Finally: "On Monday, Finance Minister Liu Kun said that the goal is to complete the issuance of the entire 2023 quota by September, with the designated proceeds spent by the end of October."
It seems that we can expect a mini stimulus, via a boost in infrastructure...
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investment, to drive growth late this year and into next year. It seems that Beijing's reluctance to encourage more wasteful investment spending and so boost the debt burdens of local governments is being overcome by worries about slowing growth.
investment, to drive growth late this year and into next year. It seems that Beijing's reluctance to encourage more wasteful investment spending and so boost the debt burdens of local governments is being overcome by worries about slowing growth.
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