New special bonds issued by local governments in China in August this year amounted to RMB 489 billion ($68.9 billion), decreasing by RMB 127.936 billion or 20.7 percent compared to July this year, according to China’s Ministry of Finance.
In the January-August period this year, new special bonds issued by local governments in China totaled RMB 3.2666 trillion ($0.46 trillion). The issuance of new special bonds has been mainly used in supporting the construction of major projects in key areas, including urban renewal, emerging industries, water conservancy, transportation, energy and other projects.