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China local government debt-swap plan to debut soon

BEIJING
2015-05-08 10:56

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China's Ministry of Finance (MOF) will initiate its local government bond replacement program soon, the Economic Information Daily reported on Friday citing multiple sources.

According to the report, the private placement is expected to become the main issuance mode for these local government bonds. Experts noted that if so, it would effectively minimize the impact on the liquidity condition caused by huge amounts of local government offerings.

Previously, China's Ministry of Finance (MOF) gave local governments one trillion yuan quota to replace their existing debts with new bonds.

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