Yiwu bags $400m despite virus fears, offers hope for LGFV issuers

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Yiwu bags $400m despite virus fears, offers hope for LGFV issuers

Light at end of tunnel hope doubt from Alamy 230x150
CN3X32 A light shining at the end of a tunnel | Alamy Stock Photo

Investors shrugged off concerns about Chinese local government financing vehicles to invest in Yiwu State-owned Capital Operation Co’s $400m bond sale this week. Despite the outbreak of Covid-19 (the coronavirus), there is still interest in mainland government-linked credits and the premium they offer. Morgan Davis reports.

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