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Oct 23 - China is set to approve slightly more than 1 trillion yuan in additional sovereign debt issuance on Tuesday as Beijing steps up its efforts to spur infrastructure spending and encourage economic growth, three sources told Reuters.
In a sign that recent policy measures may be helping to bolster a tentative recovery, China's economy grew at a faster-than-expected rate in the third quarter, while consumption and industrial activity in September also surprised on the upside. China, which has experienced an unusually wet summer this year with devastating flooding in its northern and northeastern provinces, has so far mainly relied on local government special bonds rather than sovereign debt to fund infrastructure needs.
China's State Council Information Office, which handles media queries on behalf of the government, did not immediately respond to a request for comment. The NPC and the Ministry of Finance also did not respond.
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