According to China’s Ministry of Finance (MOF), China issued local government bonds worth a total of RMB 714.8 billion ($102.3 billion) in January, accounting for 55.4 percent of local government bonds totaling RMB 1.29 trillion ($0.18 trillion) issued ahead of schedule in China. In particular, the provinces of Henan and Sichuan have completed the issuance of their first batches of local government bonds for the year 2020.
The MOF said it will increase the number of planned high-quality projects, to allow better scope for the role of special bonds and to form a long-term mechanism to drive economic development.