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China has just announced the issuance of 1,000 billion yuan ($137 billion) worth of government bonds, according to experts, an effort to strengthen the economy after a slow recovery from the pandemic.
According to Xinhua, the money will be distributed to local governments to support national disaster prevention and relief. The Chinese government will issue this batch of bonds in the fourth quarter of this year. All additional treasury bonds will be allocated to local governments through transfer payments, focusing on supporting post-disaster recovery and reconstruction, making up for shortcomings in disaster prevention, mitigation and relief...
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