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China Set to Sell More Local Debt as Fiscal Income Slumps

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China’s local governments are likely to sell more bonds in coming months, providing them with more resources to fund infrastructure projects as their finances come under strain.

Local governments have room to issue an extra 1.55 trillion yuan ($229 billion) in special debt and bonds this year to support infrastructure investment, based on unused quota from previous years, several Chinese state newspapers reported Thursday, citing analysts.