China issued 100 new special government bonds in the month of May up to May 28, with the total amounting to RMB 299.06 billion ($42.1 billion), as reported by local financial media. In April, China issued 31 new special bonds, totaling RMB 88.32 billion ($12.4 billion).
Though May has not ended yet, the new special bonds issued during the month are more than three times the total issued in April. Moreover, ultra-long sovereign bonds have been issued in May, signaling that there is more room for acceleration of infrastructure investments in the short term, which will boost the demand for steel in the near future.
