China’s new special bonds issued by local governments in August this year amounted to RMB 476.738 billion ($66.4 billion) as of August 28, already more than double the amount for the entire month of July (RMB 196.29 billion), as reported by local financial media.
Liu Kun, Chinese finance minister, stated that China will aim to complete the issuing of new special bonds by the end of September this year, while special bond funds for project construction will be utilized by the end of October.
