ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

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

Workers install electric wires on the world's tallest transmission tower by the side of Yangtze River.   © Getty Images

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more