BEIJING (Realist English). China has allocated an additional ¥200 billion ($28.1 billion) in special bond quotas to support investment and construction projects across selected provinces, the National Development and Reform Commission (NDRC) announced on Friday.
At a press briefing, NDRC spokesperson Li Chao said the move is part of a broader ¥500 billion allocation within the local government debt ceiling aimed at strengthening fiscal capacity and expanding effective investment.
Of that amount, ¥200 billion will specifically fund infrastructure and construction projects at the provincial level.
“The NDRC will oversee and guide the relevant provinces to make efficient use of these additional quotas, speed up the issuance and utilization of special bonds, accelerate project construction, and promptly create tangible workloads,” Li said.
The measure underscores Beijing’s continued reliance on targeted fiscal stimulus to shore up local economies amid sluggish growth and real estate sector strains.
