BEIJING, July 31 (Xinhua) — The value of China’s local government bond issuance stood at 830.2 billion yuan (about 116.38 billion U.S. dollars) in June, according to the Ministry of Finance.
Of the total, special bond issuance came in at 496.2 billion yuan last month, while those of general bonds amounted to 334 billion yuan, data from the ministry showed.
In June, local government bonds were issued at an average issuance term of 12.7 years and at an average interest rate of 2.8 percent.
In the first half of 2023, local governments in China issued bonds worth about 4.37 trillion yuan, data from the ministry showed.
By the end of June, China’s outstanding local government debts stood at nearly 37.8 trillion yuan, within the official limit of 42.17 trillion yuan for this year, the ministry said.