Researches & Commentaries
Hong Kong, 16 April 2021 -- China Chengxin International Credit Rating Co., Ltd. (“CCXI”) issued a report entitled “Special Bonds for Refinancing Take up Over Ninety Percent under Debt Payment Pressure, and Government Should Forestall Risks in Future Expansion of Special Bonds Against the Backdrop of Maintaining Stable Growth and Reducing Leverage in the Post-pandemic Era: Overview of Local Government Special Bonds in Q1 and Outlook”, according to the report, as an important source of funds for infrastructure construction, special bonds will still be an essential instrument used to improve areas of weakness and maintain stable growth in the post-pandemic recovery period, and when some local governments still have budgetary deficits and face great repayment pressure, special bonds for refinancing can play an important role in mitigating local government debt risks.