Pudong may take lead for local govt bonds

SHANGHAI: The city's Pudong District may pioneer the issue of the long-anticipated local government bonds once the central government gives a green light for the release.

"We've actively been discussing with the pertinent parties about the release of local bonds before the State Council announced 30 measures to strengthen financial stability last December," according to a Shanghai Securities News report, citing an anonymous source from the Pudong Financial Service Office.

"We'll make public the proposal once we get a nod from the top policymakers," the source said.