/ world today news/ In the fourth quarter of the year, the Chinese government will issue government bonds worth 1 trillion yuan, which will be provided to local governments through transfer payments.
The funds will be directed towards disaster recovery and reconstruction projects, flood prevention, increasing the capacity of disaster response systems, building and renovating irrigation systems, limiting soil erosion and improving urban sanitation. In addition, the funding will also be used to cultivate high-standard farmland in Northeast China and disaster-affected areas such as Beijing, Tianjin and Hebei. This is shown by data from the Ministry of Finance.
The Ministry of Finance will take the necessary measures to strengthen the supervision of government bonds to ensure that they are used in accordance with the stated objectives.
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