China Readies $1.1 Trillion to Support Xi’s Infrastructure Push
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China is making 7.2 trillion yuan ($1.1 trillion) in funds available for infrastructure spending, a decisive shift away from a focus on controlling debt toward supporting a lockdown-ravaged economy.
The figure refers to government-backed funds and is based on Bloomberg News’ analysis of official announcements. It includes an unprecedented 1.5 trillion yuan of “special” bonds, mainly used for infrastructure, that local governments may be allowed to sell in the second half of this year, according to people with knowledge of the discussions.