Researches & Commentaries

The Net Financing of Urban Investment Bonds is Still under Pressure, and the Credit Differentiation May Further Intensify

Hong Kong, 2 September 2021 -- China Chengxin International Credit Rating Co., Ltd. (“CCXI”) issued a report entitled “The Net Financing of Urban Investment Bonds Decreased Year-on-Year, Credit Differentiation May Intensify Further - Market Operation of Urban Investment Bonds in the First Half of 2021”, According to the report, since the beginning of the year, a new round of strict supervision has resumed, and the pressure on the urban investment platform to obtain financing through bonds, credit, non-standard and other channels has increased. The net financing scale of urban investment bonds in the second half of the year may be roughly the same as that in the first half of the year, but it does not rule out the possibility of continuous tightening of policies and further decline of net financing.


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