Researches & Commentaries
Hong Kong, 6 May 2021 -- China Chengxin International Credit Rating Co., Ltd. (“CCXI”) issued a report entitled “LGBs Require Normative Management to Steadily Expand, Expected Faster Integration and Transformation in the De-leveraging Context in LGFV Sector: Q1 2021 Review and Outlook of the LGB and UCIB Industry (Policy Chapter)”, According to the report, the economic recovery is accompanied by the phasing-out of large-scale policy options, but the overall tone of the proactive fiscal policy will continue. In this context, special-purpose bonds remain important for pursuing a proactive fiscal policy. Directly allocating budgetary funds to prefecture and county-level governments is becoming a normal practice, with a view to helping these primary-level governments stabilize economic growth.