China's local governments turn to special bonds to fund investment projects

Source: Mysteel Nov 20, 2025 14:00

Chinese local governments are increasingly using special bonds to support government investment funds, marking a shift in how regions finance long-term development and innovation projects.

The Shenzhen Municipal Finance Bureau recently disclosed that it will issue Yuan 6.52 billion ($916.2 million) in 10-year special bonds on November 24, with the proceeds earmarked for the Shenzhen Government Investment Guidance Fund. According to data disclosed by local authorities on the China Bond Information Network, since the start