No Sign of China’s Bond Quota as Government Looks to Curb Debt
In previous years, local governments began bond sales earlier
Authorities are focusing on debt control as economy recovers
China’s government has been slow to announce plans on special local bond sales this year, another sign that it’s seeking to rein in debt.
Unlike in the past two years, Beijing has so far given no indication of how much local governments can borrow from the bond market in 2021. The most recent signal from Finance Minister Liu Kun is that the government will set a reasonable quota, though he didn’t say when sales would start.