BUSINESS China issues 1.67 trln yuan in local gov't bonds in January-April

BUSINESS

China issues 1.67 trln yuan in local gov't bonds in January-April

Xinhua

11:06, May 29, 2021

China's local governments have issued over 1.67 trillion yuan (about 261.5 billion U.S. dollars) worth of bonds in the first four months of this year, according to the Ministry of Finance.

File photo: SIPA

Of the total, special bond issuance came in at 717.9 billion yuan in the period while the issuance of general bonds amounted to 953 billion yuan, data from the ministry showed.

During the January-April period, local government bonds were issued at an average issuance term of 9.1 years and at an average interest rate of 3.44 percent.

In April alone, local government bond issuance reached 775.8 billion yuan, with the issuance of special bonds hitting 343.9 billion yuan.

By the end of April, China's outstanding local government debts stood at around 26.6 trillion yuan, within the official limit of 33.28 trillion yuan for this year, the ministry said.

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