China issues special local government bonds for 2020 in advance

Friday, 29 November 2019 11:41:58 (GMT+3)   |   Shanghai
       

On November 27, China’s Ministry of Finance announced that it has issued a quota of special local government bonds for 2020 worth RMB 1.0 trillion ($0.14 trillion) in advance of next year, equal to 47 percent of the amount issued for 2019. The announcement has exerted a positive impact on the Chinese futures market, with the downtrend in the ferrous metal futures market switching to an upward trend on Thursday, November 28.

According to the MOF, China issued local government bonds worth a total of RMB 4.2787 trillion ($0.69 trillion), including new special local government bonds worth RMB 2.1297 trillion ($0.3 trillion), in the January-October period of the current year. 


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