China’s new bonds issued by local governments exceeded RMB 2.0 trillion ($0.28 trillion) up to June 26 this year, reaching RMB 2.1672 trillion ($0.3 trillion), accounting for 57 percent of the total newly-added special bonds of RMB 3.8 trillion for 2023.
Market analysts mentioned that the issuance of newly-added special bonds will speed up in the coming period, which will be completed in the third quarter this year, signaling the new bonds issuance will amount to RMB 1.5 trillion in the July-September period, hitting the highest quarterly level in the given year.