Logo 25 Oct 2023

This is not the stimulus you seek: Unpacking the significance of RMB 1 trillion in special treasury bonds

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On Tuesday, China’s legislature (NPC) approved the issuance of RMB 1 trillion worth of special treasury bonds (STBs) to fund local government investment projects.
The deets: The bonds will be issued in Q4, with RMB 500 billion distributed to local authorities this year a...



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