China taps 200 billion yuan in new local bond quota to boost investment

China has allocated 200 billion yuan ($28 billion) in new local government special bond quotas to bolster investment and strengthen regional finances, the country’s state planner said on Friday.

The measure forms part of a broader 500 billion yuan fund designed to shore up local government balance sheets and encourage infrastructure and development spending in selected provinces.

National Development and Reform Commission (NDRC) spokesperson Li Chao said the bond issuance aims to expand investment and support local fiscal health, adding that authorities remain confident of meeting full-year economic and social development targets.

Li said Beijing stands ready to introduce additional policy measures as needed, underscoring the government’s determination to maintain momentum as growth stabilises but remains uneven across regions.