Call for special bonds issue
Print Edition
China on Tuesday ordered local governments to speed up the issuance and use of bonds for designated purposes.
The move aims to make better use of the special bonds to stabilize investment, expand domestic demand and improve weak links, according to a document on the finance ministry鈥檚 website.
Finance departments at different levels should work with other authorities to speed up the preparation for special bond issuances.
鈥淧rovincial level regions should make scientific plans for the bond issuance in August and September in order to accelerate bond issuance,鈥 the document said. 鈥淏y the end of September, new special bonds issued in the first nine months should account for no less than 80 percent of 1.35 trillion yuan (US$197 billion), this year鈥檚 quota, as a matter of principle, while the remainder should be issued mainly in October.鈥
China will continue to implement a proactive fiscal policy and prudent monetary policy, with the fiscal policy playing a bigger role in expanding domestic demand and carrying out structural adjustments, according to a Party meeting held last month.
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