China’s Ministry of Finance (MOF) has announced that in the current year up to October 31 China issued RMB 3.97 trillion ($0.55 trillion) of new special bonds.
In particular, in the month of October the new special bonds issued amounted to RMB 427.91 billion ($59.4 billion).
At the same time, China’s National Development and Reform Commission (NDRC) has required local governments to hurry up to apply for special bonds projects in 2023, which will help further stabilize the momentum of China’s economic recovery.