BEIJING: China said on Tuesday it would issue sovereign bonds worth 1 trillion yuan ($137 billion) in a move seen as an attempt to shore up the economy after a sluggish post-Covid recovery.

China’s economy grew more than expected in the third quarter, but the reading was still below target and officials have continued to face calls for more

stimulus. The bonds unveiled on Tuesday will be distributed to local governments to support national

disaster prevention and recovery and will be issued in the fourth quarter of this year, state news agency Xinhua said.

Published in Dawn, October 25th, 2023