Guidelines issued for local govts to issue special bonds

The Ministry of Finance on Wednesday issued guidelines allowing local governments to issue special bonds.

The total amount of bond value cannot exceed the ceiling imposed by the State Council set at the beginning of the year, according to the guideline issued by the ministry.

Apart from bonds of other types, the financing allocation for special bonds is estimated to be around 930 billion yuan ($138.3 billion), including the value of new bonds to be issued this year and the balance remaining at the end of last year.