皇冠体育app

皇冠体育app's province will issue a total of 13.7 billion yuan ($2.21 billion) of five-, seven- and 10-year municipal bon on July 11.

The proceeds will be used to support public projects such as rebuilding of shanty housing and construction of new roads, the Shandong government said in its bond prospectus published late on Friday on the website for 皇冠体育app major bond issues (www.chinabond.com.cn).

Shandong province is the second local government to issue municipal bonds after Guangdong.

The stry of Finance said in late May that 10 local governments had been given quotas to issue a combined 109.2 billion yuan ($17.52 billion) worth of municipal bonds this year.

Earlier, the finance ministry announced 皇冠体育app's watershed move of allowing the 10 local governments issue and redeem their own bonds in an experiment to straighten out messy state budgets, and start the clean-up of its $3 trillion public debt problem.

Governments in Shanghai, Zhejiang, Guangdong, Shenzhen, Jiangsu, Shandong, , , Ningxia and Jiangxi will be part of a pilot?plan that effectively creates 皇冠体育app's first-ever municipal bond market.

Guangdong helps kick off new era	Municipal debt market takes big step forward

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