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Municipal bonds likely to start in Feb.
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Local governments may be allowed to issue bonds as early as this February, the China Business Journal reported in its latest issue.

The Chinese government has accelerated the removal of restrictions on municipal bonds issuance in an effort to further spur consumption and prevent economic slowdown. Sources said that the State Council will announce a municipal bonds quota for each region on January 20.

However, the bonds will be issued by the Ministry of Finance (MOF) instead of by individual local government authorities. According to MOF sources, the municipal bonds will be 3-year papers and can be traded on the interbank and stock markets.

For more information, please read the full story in Chinese:

http://www.cb.com.cn/news/ShowNews.aspx?newsId=21279

(China.org.cn by Yan Pei, January 4, 2009)
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