Bonds May 18

Shenzhen steps up bond sales 

City also plans to bring forward announcement of year’s debt-sale plans

by Nadeem Xu
Shenzhen steps up bond sales 
Shenzhen infrastructure developments on the project list of bond-sale proceeds.

(ATF) Shenzhen sold its third batch of government bonds this year, with the issuance on Monday of debt totaling 11.9 billion yuan ($1.69bn), according to Shenzhen Special Zone Daily.

With the issuance of 800 million yuan of general bonds and 17.6bn yuan of special bonds on January 13 and April 2, respectively, Shenzhen has issued a total of 30.3bn yuan of government bonds.

The Ministry of Finance will bring forward the announcement of its annual quota for Shenzhen's general and special bond sales to before the end of this month.

China’s provincial and central governments have loaded their bond sale plans into the first half of the year as they seek to stimulate and rebuild an economy ravaged by the coronavirus outbreak.