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China greenlights $70bn-plus in infrastructure bonds to lift economy

Xi turns focus to spurring growth with eye on third term as Communist Party chief

BEIJING -- Chinese regional governments are now authorized to issue more than 500 billion yuan ($72.9 billion) in infrastructure bonds by the end of October as President Xi Jinping aims to counter the economic blow of zero-COVID restrictions.

The State Council approved the additional issuance at a meeting Wednesday, the official China Central Television reported. Much of the new bonds will be allocated to major cities like Beijing and Shanghai, as well as coastal provinces responsible for a large portion of Chinese economic activity.

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