Tightened regulatory scrutiny slows SPB issuance
Subscribe to keep reading.
Trivium Markets keeps you briefed on the latest developments in China markets policy.
Already a subscriber? Log in.
Regulators have tightened scrutiny of projects being funded by special purpose bonds (SPBs), resulting in a slowdown of new issuance (Yicai). ICYDK: SPBs are a key vehicle for local government infrastructure investment.
In both 2026 and 2025, the annual quota for new SPBs was RMB 4.4 trillion. As o...