The redemptions have jumped since October, when Beijing allowed local governments to issue special refinancing bonds, estimated to be worth over 1 trillion yuan ($139.85 billion), which could replace their higher-yielding #LGFV debt.

However, investors are opposing the redemptions for fear of losing out on their gains from the higher-yielding #LGFVBonds.

Analysts said the investors who did approve these redemptions were primarily state-owned banks or entities. #China

https://www.msn.com/en-us/money/markets/rpt-china-s-local-governments-face-opposition-to-early-debt-redemptions/ar-AA1mtLVP?ocid=mmx&pc=EMMX01&cvid=7bf3c00f80034532b2dfe2176fcb3e7b&ei=7