China’s Ministry of Finance (MOF) has announced that China’s local government bonds issued in the January-November period this year amounted to RMB 7.28 trillion ($1.03 trillion), including new special bonds of RMB 4.75 trillion ($0.67 trillion).
In order to increase effective investment to stabilize economic growth, the issuance of local government bonds reached a record new high this year.
$1 = RMB 7.0384