China steps up issuance of special local government bonds in August

China's local governments sharply accelerated special bond issuance for infrastructure in August, official data showed on Tuesday, as part of its efforts to shore up economic growth.

Local governments issued a net 600.7 billion yuan ($82.19 billion) in special bonds in August, more than triple July's 196.3 billion yuan, according to data released by the finance ministry. Local governments issued a net 3.098 trillion yuan in special bonds in the first eight months of the year, the data showed.

China is aiming to complete issuance of the 2023 special local government bonds quota of 3.8 trillion yuan by end-September. ($1 = 7.3089 Chinese yuan renminbi)

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