New bonds issued by local governments in China in the January-June period this year amounted to RMB 2.6127 trillion ($0.37 trillion). This indicates China has fulfilled 59 percent of its bonds issue plan for 2025.
In June alone, new bonds issued by local governments in China totaled RMB 628.1 billion ($87.8 billion), up 27.7 percent compared to the new bonds issued by local governments in China of RMB 491.9 billion in May.
The country plans to issue RMB 4.4 trillion of local government special-purpose bonds in 2025, marking an increase of RMB 500 billion compared to 2024.