🇨🇳 China Boosts Bond Market

🔹 Finance Ministry Move: Starting Aug 8, 2025, new government, local gov & financial bonds will no longer be tax-exempt.

🔹 Revenue Impact: Expected to raise ¥32B in 2025, growing to ¥99B by 2027.

🔹 Old Bonds Safe: Bonds issued before Aug 8 keep their tax-free status until maturity.

🔹 Foreign Investors: Still enjoy tax exemptions on bond interest until end-2025.

🔹 Market Outlook: Analysts see limited yield impact thanks to central bank’s monetary easing.