Following the Chinese New Year holiday, local governments in China have been issuing government bonds intensively to raise funds to stimulate the construction of major projects, aiming to stabilize investment and economic development, and prevent potential risks.
As of February 25, the issuance scale of local government bonds nationwide this year has exceeded RMB 2 trillion ($0.29 trillion), reaching RMB 2.28 trillion ($0.33 trillion), up 22 percent year on year.