The municipal authorities in Beijing plan to issue the 11th batch of the 2024 Beijing Municipal Government Bonds on December 18, as announced by China Central Depository & Clearing Co., Ltd. (CCDC). By then, the task of issuing RMB 2 trillion ($0.28 trillion) of special bonds for refinancing local governments in China to “replace the stock of hidden debt” will be completed.
So far, 29 provinces in China have disclosed special financing debt issuance arrangements, though Guangdong Province and Shanghai did not participate in this round of hidden debt replacement.
