China has set another quota for new special bonds issued by local governments for the rest of the current year totaling RMB 3.8 trillion ($0.55 trillion), according to a budget report. In particular, China will increase the capital used for projects, aiming to support local governments’ normal financing needs. Market insiders said that, through the special bonds to be invested in major infrastructure projects, demand in China will increase, which will stabilize economic development.
$1 = RMB 6.9655
