Specialized bonds as financing support of local governments in China
ANBOUND
Specialized bond is one of the instruments of the Chinese Central Government to support the financing of the local governments. National Development and Reform Commission introduces two new kinds of specialized bonds, namely designated bond for the integration of rural region and industry, and designated bond for society related industries. The former entity aims for integration between rural areas and industries, internal integration within rural villages, extensions of agricultural and industrial chains, the expansion of agricultural functions, as well as the adoption of new technologies. The latter one 's applicable areas including elderly care, educational training, cultural, sports and tourism.