Posted 3/10/2024, 4:40:00 PM
China's Real Estate Slump Spreads, Putting Local Bonds and Infrastructure at Risk
- China's real estate recession affecting municipal bond market, especially infrastructure bonds
- Total outstanding issue amount for these bonds has reached 25.3 trillion yuan, almost as big as government bonds
- City of Shenzhen postponing early redemption of some infrastructure bonds
- Signs of real estate slump spreading to broader economy
- Municipal bonds play key role in funding local infrastructure projects