Economic news
China to set up state infrastructure fund worth $75 billion – sources
2022.07.05 07:00
FILE PHOTO: Construction workers stand on scaffolding in front of high voltage power lines in Shanghai September 25, 2013. REUTER/Aly Song
BEIJING (Reuters) – China will set up a state infrastructure investment fund worth 500 billion yuan ($74.69 billion) to spur infrastructure spending and revive a flagging economy, two people with knowledge of the matter told Reuters on Tuesday.
China will issue 2023 advance quota for local government special bonds in the fourth quarter, they added.
The Ministry of Finance and the National Development and Reform Commission did not immediately respond to Reuters’ requests for comment.
($1 = 6.6939 Chinese yuan renminbi)
