China’s southern province of Guangdong on Friday plans to issue new special bonds of 30.7 billion yuan (HK$32.88 billion), which will be used entirely on the recovery of idle land — a first in the country.

Provincial capital Guangzhou will issue the largest amount at 6.05 billion yuan, while Zhuhai and Huizhou will each issue over 5 billion yuan.

The two special bonds being issued will cover 19 cities across Guangdong province, funding 86 projects.

STAFF REPORTER