With the virus pandemic pummeling China’s economy, the government plans to sell 1 trillion yuan ($140 billion) of special government bonds to help fund public health and Covid-19 recovery efforts -- without inflating the budget deficit. The rarely used financing tool was previously employed during the Asian financial crisis in the 1990s and to help seed the sovereign wealth fund in 2007.
Why China Uses ‘special Debt’ To Help Economy Recover
By Bloomberg News | Bloomberg, Washington Post: Business
Mon, 05/25/2020 - 9:05am
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