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nts in Sichuan, Shaanxi and Shandong provinces as well as Beijing will eventually be able to sell bonds at count
ers in commercial banks directly to retail investors, and the practice will be expanded nationwide after an additional period of time.
The ministry said individuals do not need to pay taxes on the bonds’ interest income, and this policy is likely to attract more investors.
Selling local government bonds to retail investors should facilitate liquidity
in the secondary market, improve the market-oriented bond pricing mechanism and pu
sh issuers to enhance the quality of information disclosure, said Amanda Du, a Moody’s vice-president and senior analyst.
“Higher coupon rates compared with treasury bonds, and the tax exemption on the interest income, make
local government bonds more attractive for retail investors,” she said. “The fast takeup by retail investors also indicates that the
bonds have won high recognition among individual buyers, supported by the local governments’ high credit ratings.”
diplomatic ties. During their meetings, Xi agreed with French President Emmanuel Macron and Prime Minister Edouard Philippe to f
orge a more solid, stable and vibrant China-France comprehensive strategic partnership, and continue to explore the way for major countries to get al
ong with each other, which should feature independence, mutual understanding, foresight, mutual benefit and win-win outcomes, Wang said.
In the joint statement issued by China and France on jointly safeguarding multilateralism and improving global governa
nce, the two sides pledged to build international relations of mutual respect, equality, justice, and win-win coop
eration on the basis of respecting international laws and the basic principles of international norms, Wang said.
Speaking of Xi’s visit to Monaco, Wang said leaders of the two cou
ntries have agreed to firmly stick to the correct direction of bilateral relations, adhere to open
ness and cooperation, and pursue more win-win results so as to jointly elevate the China-Monaco relations into a new era.
During Xi’s talks with Prince Albert II, head of state of the Prin
cipality of Monaco, the Chinese president said both sides should adhere to openness and cooperation a
nd pursue more win-win results, adding that China welcomes Monaco to actively participate in the joint development of the Belt and Road.