China increases infrastructure investment to promote growth
China has further increased its economic stimulus measures, with hundreds of billions of new funds mainly used for infrastructure construction.
China will issue an additional 500 billion yuan of local government infrastructure bonds, which are expected to be issued before the end of October. Coastal areas with large economic scale are expected to be the main issuing targets. The purpose of issuing additional infrastructure bonds is to support the economy by expanding public utilities.
In the spring of this year, measures such as epidemic prevention and control implemented by Shanghai and other provinces and cities led to economic downturn. The Chinese leadership has always regarded the expansion of infrastructure investment by local governments as a pillar to boost the economy.