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China issues 1.69 trln yuan of local gov't bonds in Jan.-April

Aerial photo taken on April 10, 2022 shows the first steel box girder being set up on the main bridge at the construction site of Hongqimen bridge in south China's Guangdong Province. (Xinhua/Liu Dawei)

BEIJING, May 18 (Xinhua) -- China's local governments have issued over 1.69 trillion yuan (about 250.66 billion U.S. dollars) worth of bonds in the first four months of this year, data from the Ministry of Finance showed on Wednesday.

Of the total, the issuance of general bonds stood at 289 billion yuan, while the special bond issuance came in at over 1.4 trillion yuan in the period, the data showed.

The bonds were issued at an average issuance term of 14.2 years and an average interest rate of 3.09 percent in the January-April period, according to the ministry.

In April alone, the country issued 120.8 billion yuan of local government bonds.

At the end of last month, China's outstanding local government debt stood at nearly 32.29 trillion yuan, within the official limit of 37.65 trillion yuan for this year, said the ministry. ■