Bonds set for China's local governments
Source: Xinhua |
June 28, 2012, Thursday
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Print Edition
Print Edition
CHINA'S Ministry of Finance yesterday said it will issue 47.8 billion yuan (US$7.59 billion) worth of bonds on behalf of local governments next month, in a bid to ease financing pressures and create more funding channels for them.
On July 9, the ministry will auction off 23.9 billion yuan in three-year local government bonds on behalf of Beijing, the Ningxia Hui Autonomous Region and provinces of Qinghai, Shanxi, Fujian, Heilongjiang and Jiangsu, according to a statement on its website.
The ministry will also issue 23.9 billion yuan in five-year bonds on their behalf on July 16, the statement said.
Except city governments of Shanghai and Shenzhen and provincial governments of Zhejiang and Guangdong, other local governments are barred from issuing bonds directly.
On July 9, the ministry will auction off 23.9 billion yuan in three-year local government bonds on behalf of Beijing, the Ningxia Hui Autonomous Region and provinces of Qinghai, Shanxi, Fujian, Heilongjiang and Jiangsu, according to a statement on its website.
The ministry will also issue 23.9 billion yuan in five-year bonds on their behalf on July 16, the statement said.
Except city governments of Shanghai and Shenzhen and provincial governments of Zhejiang and Guangdong, other local governments are barred from issuing bonds directly.
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