Guangdong heads for highest level of bond issues
By Zheng Caixiong in Guangzhou | China Daily | Updated: 2013-07-31 07:22
Bond issues by Guangdong province are expected to set a record this year, even as the central government launches a national audit of local government liabilities to address concerns about rising debt from overly ambitious development projects.
Guangdong (excluding the Shenzhen special economic zone) plans to issue 12.1 billion yuan ($1.95 billion) in bonds this year, which would be a year-on-year jump of 40 percent, said Zeng Zhiquan, director-general of the Guangdong Provincial Department of Finance.
Zeng said the bond issues will set a record for the province. The issues will include 6.05 billion yuan in five-year bonds and another 6.05 billion yuan in seven-year debt.
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