-- Source link: here China has issued a document allowing greater use of special-purpose bonds for funding key government projects, as Beijing seeks to spur spending and stabilise growth, Chinese newspaper 21st Century Business Herald reported on Monday.
Local governments are now allowed to raise a “certain proportion” of project capital via the issuance of special-purpose bonds, the paper said, citing unnamed sources. These bonds were not allowed to raise project capital earlier.
Such projects would include railways and roads deemed significant by the central government.
— Note: Reuters has not verified this story and does not vouch for its accuracy
Reporting by Yawen Chen; Editing by Rashmi Aich