China boosts support for economy with new debt issuance

The central government will issue one trillion yuan in bonds in the fourth quarter


The Chinese central government said it will issue an additional one trillion yuan ($137 billion) in government bonds in the fourth quarter to support the economy.

The country’s legislature approved the plan proposed by the State Council on October 24, news agency Xinhua reported.

Funds raised from the bonds will be used for rebuilding disaster-hit areas and flood prevention projects.

The central government will transfer the proceeds to local governments, with 500 billion yuan to be spent this

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