China has accelerated the issuance of local government special bonds since the start of January, in an effort to speed up infrastructure construction to offset downward pressure on China’s economic growth. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Steel demand generated from the infrastructure sector is expected to pick up after China’s Lunar New Year holidays over January 24-30, with stronger momentum than in early 2019. As of January 14, China has issued Yuan 334.465 billion ($48.7 billion) of local government special bonds, compared with Yuan 141.2 billion issued in the whole month of January 2019, according to state-run media Securities Daily. There is at least Yuan 368.425 billion more local government special bonds in the pipeline for issuance within January. Moreover, all the special bonds issued and planned for January 2020 are for infrastructure projects, such as transportation, utility and environmental protection. None […]