Bonds
China May Raise $846 Billion to Boost Growth, Caixin Reports
- Funds to go into easing local government debt burden: Caixin
- Finance Ministry previously vowed large effort to swap debt
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China may raise 6 trillion yuan ($846 billion) from ultra-long special government bonds over three years as part of its efforts to boost the sputtering economy, Chinese media outlet Caixin reported.
The funds will be partly used to help local governments relieve their burden from off-balance-sheet debt, according to the report late on Monday, citing unidentified people.