Logo 21 Oct 2025

Beijing authorizes RMB 500 billion in local bonds to boost infrastructure investment in Q4

Subscribe to keep reading.

Trivium Markets keeps you briefed on the latest developments in China markets policy.

Try it free

Already a subscriber? Log in.

Beijing is giving infrastructure spending a jolt as the year comes to a close. On Friday, the finance ministry (MoF) announced that it has authorized local governments to issue another RMB 500 billion worth of bonds in Q4, drawing on unused quotas from previous years.

MoF has already allocated the ...



More recent developments

Logo June 4, 2026
SAIC to increase manufacturing capacity in Spain

SAIC – China’s second-largest automaker – is building a EUR 200 million auto plant in Galicia, Spain (Reuters). The plant – which will primarily manufacture EVs – is expected to produce up to 120,000 vehicles annually under the MG brand… Read More »

Logo June 4, 2026
Economist argues capital outflows help RMB internationalize

China has found a path to yuan internationalization that doesn’t require running trade deficits. So says Zhang Ming, a deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS), China’s leading think… Read More »

Logo June 4, 2026
Scale of local government debt distorted by official definitions

Beijing is massively underestimating the scale of local government hidden debt. ICYDK: Hidden debt refers to local government off-balance sheet liabilities, mainly accumulated via local government financing vehicles (LGFVs). The stock of officially recognized hidden debt stood at RMB 14.3… Read More »