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Financials

China plans to issue another 1 trln yuan in advance local government special bonds quota

BEIJING, April 20 (Reuters) - China’s finance ministry said on Monday it plans to issue another 1 trillion yuan ($141.3 billion) in advance quota for local government special bonds, debt which is used to fund major infrastructure projects.

Local governments have issued a total of 1.57 trillion yuan in bonds as of April 15, which is 85% of the advance quota for such debt, a ministry official said during a briefing. (Reporting by Kevin Yao; writing by Se Young Lee Editing by Shri Navaratnam)

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