Beijing, November 06 (QNA) – China’s local governments have issued bonds worth over 4.24 trillion yuan (about 584.4 billion US dollars) in the first nine months of 2022.
Of the total, special bond issuance came in at 3.54 trillion yuan in this period, while the issuance of general bonds amounted to 699 billion yuan, according to the Chinese Ministry of Finance.
During the January-September period, local government bonds were issued at an average issuance term of 13.3 years and at an average interest rate of 3.03%.
By the end of September, China’s outstanding local government debts stood at around 34.71 trillion yuan, within the official limit of 37.65 trillion yuan for this year, the ministry said. (QNA)
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