Bonds to fund urbanization push

Central bank will support greater use of municipal issues to expand infrastructure

China will expand the use of municipal bonds as part of a broader plan to increase funding for urbanization, an official of the central bank said on Wednesday.

Municipal bonds are widely issued in many countries and the central bank will allow greater use of municipal bonds in China beyond the existing pilot programs, Guo Qingping, a senior official of the People's Bank of China, told a conference.