Beijing plans to issue new government bonds

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Beijing plans to issue new government bonds worth 90.8 billion yuan (US$13.47 billion) this year, city officials said at a municipal meeting on Wednesday. 

The new bonds, which include 14.9 billion yuan in general bonds and 75.9 billion yuan in special purpose bonds, will be used in major areas and projects such as improving people’s livelihood, infrastructure, rural vitalization, Beijing-Tianjin-Hebei integrated development, the construction of the “two zones” and the city’s sub-center, and the renovation of old communities. 

According to officials of the municipal finance bureau, the city will prioritize its districts with low-risk and well-managed projects through comprehensive evaluations to ensure the money will be used effectively and efficiently.

In addition, the city approved to include new government debts in the local budget management plan at the meeting.

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