Politics
Xi Jinping's City of the Future Just Had a Record Quarter in Construction Financing
The five lots raised more than 14 billion yuan ($1.9 billion), marking the busiest quarter for construction financing in the six years of bond issuance for the development zone, located in Hebei province.
Most bonds will take 30 years to mature, with an annual coupon rate of between 2.23 and 2.52 percent, according to Celma.org.cn, a national government debt information disclosure platform local. A batch of 20-year bonds was also issued, yielding 2.47 percent.
Coupon rates are very close to those of Chinese Treasury bonds of the same duration.
State media reported last month that more than 760 billion yuan had been invested in city construction, including roads, residential neighborhoods, schools, hospitals and a high-speed rail station linking the capital Beijing and the port megacity of Tianjin.
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