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China to set up state infrastructure fund worth $75 billion – sources


BEIJING : China will set up a state infrastructure funding fund worth 500 billion yuan ($74.69 billion) to spur infrastructure spending and revive a flagging financial system, two individuals with information of the matter instructed Reuters on Tuesday.

China will concern 2023 advance quota for native authorities particular bonds within the fourth quarter, they added.

The Ministry of Finance and the National Development and Reform Commission didn’t instantly reply to Reuters’ requests for remark.

($1 = 6.6939 Chinese yuan renminbi)

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