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Published: 20:24, June 28, 2023
China issues local govt bonds worth 302b yuan in May
By Xinhua
Published:20:24, June 28, 2023 By Xinhua

In this undated photo, a woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. (PHOTO / XINHUA)

BEIJING — China's local governments issued bonds worth 301.9 billion yuan (about $41.87 billion) in May, according to the Ministry of Finance.

Of the total, special bond issuance came in at 275.5 billion yuan last month, while the issuance of general bonds amounted to 26.4 billion yuan, data from the ministry showed.

In the first five months of 2023, local governments in China have issued bonds worth over 2.25 trillion yuan

READ MORE: Regional bonds remain robust, continue to grow

In May, local government bonds were issued at an average issuance term of 12.5 years and at an average interest rate of 2.85 percent.

In the first five months of 2023, local governments in China have issued bonds worth over 2.25 trillion yuan, data from the ministry showed.

READ MORE: Seven Chinese state firms approved to issue bonds

By the end of May, China's outstanding local government debts stood at over 37.56 trillion yuan, within the official limit of 42.17 trillion yuan for this year, the ministry said.

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