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CN Local Govt Bond Issuance Reaches RMB1.2T in Aug, Highest Mth Within 2024 - Report
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According to the Securities Times, local governments in China are accelerating the issuance of bonds to support the construction of major projects in order to stabilise investment and promote growth as the economy enters a period of accelerated developments in 2H24. Citing data from Wind, the media reported that in the first eight months of this year, local government bonds issued by local governments nationwide amounted to RMB5.4 trillion, a YoY decrease of 14.18%. Among them, the local government bond issuance speeded up significantly in August, with the national issuance of local government bonds of nearly RMB1.2 trillion, the highest issuance volume and total amount in the year, rising around RMB490 billion in MoM terms. The net financing scale elevated about RMB630 billion MoM. AAStocks Financial News |
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