More fund injection to boost growth

Local govts urged to speed up bond issuance for infrastructure projects

Local governments will join commercial banks to accelerate fund injection into infrastructure projects, a way for the country's policymakers to step up the fight against economic downside risks in the second half of this year.

A guideline urging local governments to speed up bond issuance for special purposes was released on the Ministry of Finance website on Tuesday. It requires provincial-level and authorized municipal governments to finish no less than 80 percent of the 1.35 trillion yuan ($196.2 billion) special bond quota by the end of September.