By Bingyan WangHong Kong-listed infrastructure stocks rose in early trading Friday after a Wall Street Journal report that Beijing is considering issuing $140 billion in special treasury bonds to finance infrastructure projects and other initiatives to boost economic growth. Shares of China Railway Construction Corp., China Railway Group and China Communications Construction Co. were 5.3%, 4.2% and 3.65% higher, respectively, in mid-morning trade, against a 0.7% gain for Hong Kong's benchmark stock index. The report came after China released a series of weak economic data that indicated a further slowdown in the country's postpandemic economic recovery. During the pandemic, the central government used special treasury bonds to help Covid-hit sectors and stimulate infrastructure spending. Beijing issued special bonds in 2020 and late 2022, totaling about CNY1.750 trillion.

Source: Wall Street Journal June 16, 2023 09:59 UTC