BEIJING, Oct. 1 (Xinhua) – China’s local governments have issued nearly 4.880 billion yuan (about $ 752.5 billion) in bonds in the first eight months of this year, according to the finance ministry .
Of this total, special bond issuance amounted to 2.780 billion yuan during this period, while general bond issuance reached 2.1 trillion yuan, according to ministry data.
From January to August, local government bonds were issued for an average term of 11 years, and at an average interest rate of 3.39%.
In August alone, local government bond issues reached 879.7 billion yuan.
At the end of August, China’s local government debt stock stood at 28.470 billion yuan, up to the official limit of 33.280 billion yuan for this year, the ministry said. End
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