China Increases Limit On Local Government Bond Issuance

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China plans to raise the ceiling for special local government bonds issuance to 400 billion yuan ($61.5 billion) this year, up from 100 billion yuan in 2015.The figure was revealed in this year's Government Work Report, released on Saturday, although the quota for new general bonds was not specified. Last year, China allowed regional and local governments to issue 100 billion yuan of special bonds and 500 billion yuan of general bonds.…

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