Show me the money
Subscribe to keep reading.
Trivium Markets keeps you briefed on the latest developments in China markets policy.
Already a subscriber? Log in.
On Wednesday, Beijing’s local government announced plans to issue RMB 85 billion in special refinancing bonds, which will be used to pay down accumulated debt.
Why that’s interesting: The proceeds will almost certainly be used to replace the city’s “implicit debt” with “explicit debt.”
Some context:...