China will support overseas bond issues by local firms to fund “One belt, One road” projects
By: Reuters | Mar 30 2015 at 09:11 AM | International Trade
China will encourage Chinese companies to issue bonds overseas to fund projects for the “One belt, One road” initiative, a plan to boost connectivity across Asia for which it has created a $40 billion fund, according to a framework agreement released on Saturday.
The agreement was released by a number of different Chinese authorities simultaneously.
The title refers to Beijing’s plan for creating a modern Silk Road Economic Belt and a 21st Century Maritime Silk Road connecting Asia with Central Asia, Europe and Africa.