BUSINESS China issues 3.2 trillion yuan of bonds in October

BUSINESS

China issues 3.2 trillion yuan of bonds in October

Xinhua

14:20, November 17, 2018

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BEIJING, Nov. 17 (Xinhua) - The value of bonds issued in China last month totaled 3.2 trillion yuan (about 460 billion US dollars), according to data from the central bank.

Treasury bond issuance stood at 349.5 billion yuan, while local government bond issuance was worth 256 billion yuan, according to the People's Bank of China.

By the end of October, the size of outstanding bond market debt was 83.8 trillion yuan.

A number of regulations were introduced last year to rein in financial risks as local government debt and corporate leverage increased.

The central bank has pledged more efforts to improve the disposal of bond defaults, and unify rules on approval and information disclosures of corporate credit bond issuance.

Last year, China issued bonds worth 40.8 trillion yuan, up 12.9 percent from the previous year.

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