According to the latest statistics issued by China’s Ministry of Finance (MOF), China issued local government bonds worth RMB 4.3244 trillion ($0.61 trillion), including new special local government bonds worth RMB 2.1297 trillion ($0.3 trillion), in the January-November period this year.
In the January-November period, the average interest rate for local government bonds was 3.47 percent, down 43 basis points compared to the same period in the previous year.
Meanwhile, in addition to keeping three to ten year bonds as the main categories, local governments issued other bonds with longer terms, including 15 years, 20 years and 30 years. For instance, the average issuance period was 10.2 years in the January-November period this year, 4.1 years longer compared to the same period last year.