China to Issue 3.75 tn Yuan ($526 bn) in Bonds to Boost Spending

W460

Beijing will issue 3.75 trillion yuan ($526 billion) in special government bonds this year, said Premier Li Keqiang on Friday, in a bid to boost infrastructure spending in the virus-hit economy.

The amount represents a 1.6-trillion-yuan increase over last year, and a larger proportion of the bonds can be used as project capital, with priority given to items like new infrastructure, Li told the opening of the National People’s Congress.

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