ICYMI – China set to approve 1 trln yuan in additional sovereign debt issuance today

<p>I posted this earlier:</p><ul><li><a href="https://www.forexlive.com/news/china-set-to-approve-circa-us137billion-in-additional-sovereign-debt-issuance-on-tuesday-20231023/" target="_blank" rel="follow" data-article-link="true">China set to approve circa US$137billion in additional sovereign debt issuance on Tuesday</a></li></ul><p>And am doing so again ahead of Chinese markets opening for the day.</p><p>More info, Reuters citing 3 unnamed sources:</p><ul><li>China's top legislators, the standing committee of the National People's Congress (NPC), are set to approve the extra debt issuance</li><li>Beijing is aiming to begin issuing the debt, which is among the measures the Chinese government is taking to shore up the economy during down cycles, in November</li><li>nearly half of the proceeds to be raised from the additional bond issuance would be spent on water conservancy and flood prevention projects, while the rest would be mainly used for post-disaster reconstruction and high-standard farmland construction.</li></ul><p>Also, this:</p><ul><li><a href="https://www.forexlive.com/news/icymi-chinas-sovereign-wealth-fund-bought-etfs-to-prop-up-puking-stock-market-20231023/" target="_blank" rel="follow" data-article-link="true">ICYMI – China's sovereign wealth fund bought ETFs to prop up puking stock market</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.