29 February 2020

Local govts eye municipal bonds to fund urbanization, paper says

Several local governments, including those in Zhejiang, Jiangsu, Jiangxi, Guangdong and Beijing, are preparing to issue municipal bonds to finance their urbanization efforts, the Economic Information Daily reported Thursday, citing unidentified sources. According to the government’s blueprint for the nationwide urbanization program, local governments are allowed to issue municipal bonds to raise funds for income-generating projects that will benefit the public, the report said. In Zhejiang, Wenzhou city plans to allow private investors to become shareholders in infrastructure projects, it added.

– Contact HKEJ at [email protected]