CHINA's Ministry of Finance is considering allowing local governments to sell CYN1.5 trillion (US$220 billion) in bonds in the second half of this year, an unprecedented acceleration of infrastructure funding aimed at shoring up the country's economy, reports Bloomberg.
The bond sales would be brought forward from next year's quota, according to people familiar with the discussions, who asked not to be identified because they aren't authorised to speak publicly. It would mark the first time the issuance has been fast-tracked, underscoring growing concerns in Beijing over the state of the economy.
Usually, local governments don't' start selling the debt until January 1, when the new budget year begins. The proposal to adjust that timeline would therefore need to be reviewed by the State Council and might also need approval from the country's legislative body, the National People's Congress.
SeaNews Turkey
The bond sales would be brought forward from next year's quota, according to people familiar with the discussions, who asked not to be identified because they aren't authorised to speak publicly. It would mark the first time the issuance has been fast-tracked, underscoring growing concerns in Beijing over the state of the economy.
Usually, local governments don't' start selling the debt until January 1, when the new budget year begins. The proposal to adjust that timeline would therefore need to be reviewed by the State Council and might also need approval from the country's legislative body, the National People's Congress.
SeaNews Turkey
