More funds to finance key public projects

Top policymakers will allow local governments to inject more funds raised through bonds into large infrastructure construction projects, and the measure will help strengthen economic growth amid external headwinds, experts said.

A document jointly drafted by the Ministry of Finance, the National Development and Reform Commission and the People's Bank of China, has been sent to provincial-level local governments and permits funds from special-purpose bonds to be used for railways, highways and electricity and gas-supply projects.

It will improve infrastructure financing which will not increase local governments' budget deficits, said experts familiar with the matter.