Hot topics | Coronavirus pandemic

China Issued A $144 Billion Bond To Fight Against Coronavirus

China Issued A $144 Billion Bond To Fight Against Coronavirus

Chinese authorities have issued special government bonds worth 1 trillion yuan (about $144 billion at the current exchange rate) to Finance measures to counter the spread of a new type of coronavirus, according to Chinese Finance Minister Liu Kun.

"By the end of July, we fully completed the issue of government bonds worth 1 trillion yuan, which is used to finance the fight against coronavirus, "he told the Xinhua News Agency. Approximately 510.5 billion yuan ($73.5 billion) of this amount has already been used to support the activities of more than 24.1 thousand objects."

According to the official, these funds are mainly used for the creation and development of special infrastructure, as well as for the implementation of measures to eliminate outbreaks of the disease and to ensure epidemiological security. Liu Kun stressed that the use of allocated funds is subject to strict government control.

According to statistics, 93.52% of those infected with coronavirus were cured in mainland China. The number of infected since December 2019 has exceeded 84.5 thousand, 364 cases of infection have been detected over the past seven days, and the dynamics of patient growth in hospitals for a week was about 5.6% per day. There have been no fatalities in the country since April 15 (except for cases added once as a result of adjustments), more than 4.6 thousand people have died, and the death rate is 5.48%.

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