China’s debt engine is trying to rev:
Chinese local governments issued much more bonds in January than last year as top policymakers called for front-loaded efforts to boost investment and stabilize economic growth.
Local government issued 698.9 billion yuan of bonds in January, increasing by 336.5 billion yuan from the same period last year, according to data from Wind Information. That included 583.7 billion yuan of new bonds, compared to last year when local governments didn’t start issue new bonds until March.
