China issues 625.8b yuan in local govt bonds in January

BEIJING - China's local governments issued bonds worth 625.8 billion yuan ($89.95 billion) in January 2023, according to the Ministry of Finance.

Of the total, special bond issuance came in at 491.2 billion yuan in this period, while the issuance of general bonds amounted to 134.6 billion yuan, data from the ministry showed.

In January, local government bonds were issued at an average issuance term of 16.6 years and at an average interest rate of 3.12 percent.

By the end of January, China's outstanding local government debts stood at around 35.7 trillion yuan, the ministry said.