China to raise US$160b in bonds to build infrastructure: sources

Shanghai

CHINA plans to raise US$160 billion in bonds to fund infrastructure projects over the next few years, sources said, in a sign Beijing is intent on stepping up investment to spur the economy and making good on huge but vague spending pledges.

Beijing plans to use a big policy lender, the Agricultural Development Bank of China, and other development banks to issue more than one trillion yuan (S$220 billion) in bonds, to fund big-city projects such as pipelines, water treatment or subway systems, three people familiar with the plan said on Friday.