CHINA China issues over 4.02 trln yuan of local gov't bonds in H1

CHINA

China issues over 4.02 trln yuan of local gov't bonds in H1

Xinhua

14:38, July 31, 2022

BEIJING, July 31 (Xinhua) -- China's local governments have issued over 4.02 trillion yuan (about 596.11 billion U.S. dollars) worth of bonds in the first half of this year, data from the Ministry of Finance showed.

Photo taken on Sept. 30, 2020 shows the street view of the Lujiazui area of Pudong, east China's Shanghai.(Xinhua/Wang Xiang)

Of the total, the issuance of general bonds stood at 614.8 billion yuan, while the special bond issuance came in at nearly 3.41 trillion yuan in the period, the data showed.

The bonds were issued at an average issuance term of 14.1 years and an average interest rate of 3.08 percent in the January-June period, according to the ministry.

In June alone, the country issued 1.58 trillion yuan of local government bonds.

At the end of last month, China's outstanding local government debt stood at nearly 34.75 trillion yuan, within the official limit for this year, according to the ministry.

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