Local govt bonds get huge boost

State Council decides to allow up to 300 billion yuan to be invested from social security fund

China is to allow up to 300 billion yuan (nearly $48 billion) from the nation's social security fund to be invested in local government bonds and other financial instruments this year, more than double the amount in 2014.

The decision made on Wednesday at an executive meeting of the State Council, or cabinet, chaired by Premier Li Keqiang, paves the way for future bond issuance by local governments.