China is set to issue the first batch of special sovereign bonds for the year on Thursday as part of the stimulus announced by authorities to soften the blow from simmering trade tensions with the US.
The Ministry of Finance plans to raise 286 billion yuan ($39 billion) via a three-part issuance later in the day, according to Bloomberg calculations. The bond sale is to fund the fiscal package approved in March, but unlike sovereign debt, special bonds are issued for specific purposes and aren’t accounted for in China’s record high fiscal deficit target of 4% for the year.
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