In April this year, new local government bonds issued by China amounted to RMB 120.2 billion ($17.0 billion), as announced by China’s Ministry of Finance (MOF).
In the January-April period of the current year, new local government bonds issued by China totaled RMB 1.6626 trillion ($0.24 trillion), accounting for 58.4 percent of the Ministry of Finance’s in-advance issuance of new local government bonds of RMB 2.848 trillion ($0.4 trillion).
The MOF has issued an additional in-advance quota of RMB 1 trillion ($0.14 trillion) of local government bonds by the end of April.
$1 = RMB 7.0769