Key facts
- China's local governments issued nearly 1.5 trillion yuan in new special bonds from January to May.
- A larger portion of these funds is being allocated to construction projects.
- The data was compiled by Securities Daily, citing local debt information.
China's property market has faced significant challenges, with a slowdown in sales and developer defaults. Local governments are using special bonds, with an increasing focus on construction projects, as a fiscal tool to stimulate economic activity and infrastructure development.