Guangdong bond deepens China’s debt market

The country’s first local government bond in the name of the local authority will help set up a more transparent borrowing model.

Guangdong bond deepens China’s debt market

The push this week by China’s government to develop its onshore bond market has huge implications.

On Monday, the local government of Guangdong Province sold Rmb14.8 billion $2.4 billion worth of bonds, the country’s first local government bond in the name of the local authority.

Previously, six local governments could issue bonds but conditionally and only in the name of the Ministry of Finance. The six are Shanghai, Zhejiang, Guangdong, Shenzhen, Jiangsu...

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