China to speed up issuance and use of special local government bonds -state media

Credit: REUTERS/FLORENCE LO

China's cabinet said on Wednesday it will speed up issuance and use of special local government bonds to expand effective investment, state television reported.

BEIJING, July 15 (Reuters) - China's cabinet said on Wednesday it will speed up issuance and use of special local government bonds to expand effective investment, state television reported.

Local government special bonds issuance totalled 2.24 trillion yuan ($320.76 billion) by mid-July, of which 1.9 trillion yuan has been spent, the state cabinet said in a meeting chaired by premier Li Keqiang.

($1 = 6.9834 Chinese yuan renminbi)

(Reporting by Lusha Zhang, Judy Hua and Kevin Yao; Editing by Andrew Heavens)

((LushaZhang1@thomsonreuters.com; 8610-56692106;))

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