Watch out for this issue and keep an eye on how the money is going to be spent. China began selling 19.5 billion yuan ($2.87 billion) of three-year local government bonds Tuesday, the sixth sale of such bonds this year, Global Times reported.
The Ministry of Finance (MOF) is issuing the bonds on behalf of five provinces and municipalities — Hebei, Shanghai, Shenzhen, Guizhou and Shaanxi. The bonds pay a fixed annual interest rate of 2.37 percent, MOF said in a statement on its website.
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