China’s local governments issued a net 2.0057 trillion yuan ($283 billion) in special bonds in the first eight months of the year,reported Reuters.
In August, net special bond issuance by local governments hit 319.4 billion yuan ($45.1 billion), rising from 299.7 yuan ($42.3 billion) in July.
Beijung has set a quota of 215 trillion yuan for local governments to sell special bonds this year to fund infrastructure, including road, rail and water projects.
Beijing will allow local governments to issue special bonds earlier than normal next year to help steady growth, and it specified for the first time that about 20 percent of all special-purpose bonds issued by every province could be used as project capital.
