27 February 2020

Urbanization drive may need 25 trln yuan in 3 yrs, paper says

Urbanization initiatives will require 25 trillion yuan (US$4.12 trillion) capital outlay in the next three years, the National Business Daily reported Monday, citing sources from China Development Bank. The central government is expected to roll out a mechanism for local governments to issue bonds to ensure stable supply of funds for public infrastructure investment and the operation of other public facilities, it said. National Development Reform Commission (NDRC) director Xu Shaoshi {徐紹史} said related urbanization policies will be unveiled as soon as possible, the report noted.

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