China plans to ease capital requirement for infrastructure projects in the secon...
BEIJING - China plans to ease capital requirement for infrastructure projects in the second half this year, in a bid to boost investment and fend off rising headwinds in the slowing economy, the state planner said.
The economy stumbled more sharply than expected in July, with infrastructure investment slowing further despite a flurry of growth measures over the past year as the intensifying U.S. trade war took a heavier toll on businesses and consumers. The Chinese government had announced in June that it would allow local governments to use proceeds from special bonds as capital for major investment projects, a move seen by analysts to make it easier for projects to meet the minimum capital ratio requirement and allows firms to leverage more loans from banks.
“Local governments would be stretched to borrow more while recognizing billions of dollars in fresh liabilities—investors might flee,” it said in a note last week.
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