China Issues $137 Billion in New Sovereign Bonds to Boost Economy and Rebuild Flood Areas
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China is issuing new sovereign bonds worth 1 trillion yuan ($137 billion) to help economic recovery and rebuild flood-hit areas.
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The bonds will help drive domestic demand and support China's economic growth recovery.
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China has sharply lifted its 2023 budget deficit to around 3.8% of GDP to accommodate the rise in central government debt.
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Analysts say the economic impact of the new bonds may be limited in the near-term.
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Half of the bond funds will be used this year, and the rest in 2024, to fund infrastructure projects.