State Researcher Says China Should Expand Local Bond Sales, Daily Reports
China’s local governments should be allowed to expand their use of bond sales as a way of raising funds to make their debt more transparent, China Daily cited Jia Kang, head of the Ministry of Finance’s research institute, as saying.
China needs to modify its budget laws and regulatory rules to allow local governments to sell more bonds, Jia said, according to the report.
Local governments have been allowed to sell bonds since 2009 only in limited amounts, the report said.
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.