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Under a pilot scheme, the first group of six provinces and cities sold 6.8 billion yuan in bonds
at commercial bank counters to individual buyers between March 22 and early April.
The coupon rates are between 3.01 percent and 3.33 percent, higher than treasury b
onds issued by the central government as well as bank deposits with the same maturity.
Gross local bond issuances hit 1.18 trillion yuan in the first qua
rter, compared with only 219.5 billion yuan in the same period last year.
The total quota for 2019 local government bond issuances is 3.08 trillion yuan, according to the Ministry of Finance.
“About 60 percent of the bonds were issued for ongoing construction, especially
for shantytown renovation projects, railways and roads,” said Hao Lei, head of the ministry’s Budget Department.
While debt financing continues to grow, the government is experiencing sharp declin
es in fiscal revenue growth, especially from tax and land sales, official data showed.
ains into service. It said residents in the city would likely make about 340,000 trips by train on Friday.
Other branches of the railway system have also launched more runs to handle the increase of holiday passengers.
Tomb Sweeping Day, also known as Qingming Festival, fell on Friday this year. It i
s a traditional Chinese day on which people pay tribute to deceased family members,
friends and national heroes. Chinese people have used the day for spring outings since ancient times.
In recent years, the number of Chinese travelers, to both domestic and foreign destinations, d
uring the Tomb Sweeping Day holiday has increased annually, and most of them travel by rail for some or all of the j
ourney. For destinations within China, railways offer lower prices and more choices than airlines.
At present, China operates more than 131,000 kilometers of tracks. That fig
ure includes more than 29,000 km of high-speed rail, two-thirds of the global total.
Last year, China invested more than 338 billion yuan ($50 billion) in the construct
ion of 26 new railways and opened new lines totaling 4,683 km, most of them high-speed.
at the mosque. He remembered his mother was at their property waiting to meet a contractor. He texted her. She was safe.
Then he saw the video broadcast live from a camera fixed to the gunman’s helmet. It
showed the gunman using the family’s driveway as a base to store his loaded weapons.
”I couldn’t believe it, that the guy had literally parked in our driveway and walked into the mosque, walked back to our driveway and back into the mosque,” South said.
When police arrived they helped Harrison get out of the house and over the back fence. “She wa
sn’t allowed to leave (by the front) because there were literally bodies lying in the driveway,” her son said.
The family says there’s no way that house can be their home now.
Amid the flowers at the roadblock on Saturday was a homemade sign printed on a piece of A4 paper, titled “#No to hate and terror.”
”If New Zealand is like a vessel of milk filled to the very brim, then consider immigrants
as a pinch of sugar. We’ll not bring the vessel to overflowing but make the milk sweeter,” the sign said.
The author, Deepak Sharma, was standing nearby holding an identical copy. He moved from India to New Zeal
and 10 years ago, and with tears in his eyes told CNN, “This is not the country we chose to immigrate to.”