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Hainan Province, China issued bonds of 12.7 billion yuan

Yesterday, Hainan Province, China successfully issued bonds worth 12.7 billion yuan, including 3.4 billion yuan in new bonds and bonds at 9.3 billion yuan in replacement of old bonds.
The relevant person in charge of the provincial finance department reported that this year, Hainan Province has already issued a total of 42.8 billion yuan of bonds, including 14.9 billion yuan in new bonds and 27.9 billion yuan in bonds with replacement. The province conscientiously implemented the relevant agreements and accelerated the issuance of local government bonds. At the moment, it has completed 79.9% of the planned annual emission, and the remaining 10.8 billion yuan of new special bonds will be issued in a month.

It is clear that state bond funds are mainly used for key infrastructure, environmental protection of the environment and construction of life support projects for people. This is of great importance for reducing financial costs, eliminating infrastructure deficiencies, promoting stable economic growth and facilitating the creation of the Hainan Free Trade Zone and the Free Trade Port with the Chinese
specificity.

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