China’s new special bonds issued as of Sept 21 amount to 86% of annual limit

China’s new special bonds issued by local governments as of September 21 accounted for 86 percent of the annual limit, as reported by local financial media.

China’s new special bonds issued by local governments amounted to RMB 3.275575 trillion ($0.46 trillion) in September up to September 21.

In October and November, China’s new special bonds issued by local governments will likely reach RMB 210 billion ($29.3 billion) and RMB 70 billion ($9.8 billion), respectively.

In March this year, the budget report approved by China’s National People's Congress stated that the quota of new special bonds for 2023 was RMB 3.8 trillion ($0.53 trillion).

$1 = RMB 7.1727