31.10.202503:24:06UTC+00China Adds Bonds Quota to Stimulate Local Investment

China has designated 200 billion yuan (approximately USD 28 billion) in special bond quotas for local governments to encourage investment within specific provinces, according to a statement from Li Chao, a spokesperson for the National Development and Reform Commission, reported by Reuters on Friday. This initiative is an aspect of a larger fund totaling 500 billion yuan, aimed at strengthening local fiscal resources. "We are confident and capable of meeting our yearly targets for economic growth and social development," Li asserted, emphasizing that the government will implement policy measures swiftly as situations necessitate. Previously, as reported by Xinhua, China has introduced a cumulative 500 billion yuan (around USD 70.56 billion) through a novel policy-driven financial mechanism to stimulate investment. The China Development Bank, the Export-Import Bank of China, and the Agricultural Development Bank of China contributed 250 billion yuan, 100 billion yuan, and 150 billion yuan, respectively.