Bond Decisions
The Sixth Session of the 14th Standing Committee of the National People’s Congress (NPC), China’s top legislature, passed a decision on October 24 authorizing the State Council to allocate some of the new local government bond quota in advance.
According to the decision, the State Council could allow local governments to front-load part of their 2024 bond quota to maintain steady investment, expand domestic demand and strengthen weak links.
The State Council would determine the amount a local government could borrow ahead of time, and the measure would last for four years from October onward, through to late 2027.
The measure will help speed
