Chinese Free Trade Zones To Offer Provincial Bonds
by Lorys Charalambous, Lowtax.net, Cyprus
23 February, 2017
China is encouraging local governments to issue bonds in free trade zones this year, according to a recent announcement by the Ministry of Finance.
The announcement said governments of regions with "mature conditions" will be able to "actively" issue bonds in free trade zones. Local officials have also been told to attract more foreign-funded financial institutions to participate in underwriting.
The issuance of new local government bonds is subject to annual caps, which were put in place in 2014 to rein in rising debt risks.
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