China’s new local bonds (including new general and new special bonds) issued by local governments amounted to RMB 3.1 trillion ($0.43 trillion) in the current year up to August 4, as reported by local financial media.
Meanwhile, China’s overall local government bonds (including general and special bonds) totaled RMB 5.24 trillion ($0.73 trillion) in the given period.
Experts said the issuing of new local bonds for the whole year of 2023 will be completed by the end of September, which will accelerate the use of funds and contribute to stabilizing investments and the economy.
$1 = RMB 7.138