China Central Government Is Borrowing at Fastest Pace on Record
- Government is selling bonds to finance spending, spur growth
- That should help ease debt burden of local governments
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China’s central government is borrowing at the fastest pace on record to finance more spending and to ease the debt burden in provinces.
The amount of sovereign bonds sold this quarter, excluding those maturing, reached 277 billion yuan ($40 billion), the highest level for the same period since 1997, when the official ChinaBond website started releasing the data, Bloomberg calculations show.