The first 10 months of China issued a total of nearly 8.5 trillion yuan in local debt

The Ministry of Finance of China announced that nearly 8.5 trillion yuan in local government bonds issued in the first 10 months of this year (RMB, the same below, about 1.61 trillion yuan).

Comprehensive China News Network and CCTV News reported that the local government bond data released by the Ministry of Finance on Wednesday (November 29) showed that in the first 10 months of this year, the number of new bonds issued in the country was 4.34 trillion yuan, andIssuing a re -financing bond of 4.14 trillion yuan.Together, 8.47 trillion yuan of local government bonds were issued nationwide.

Of the above -mentioned local government bonds with more than 847 trillion yuan, general bonds were 3.08 trillion yuan and 5.4 trillion yuan of special bonds.

The Ministry of Finance also announced that the average issuance period of local government bonds was 12.6 years in the first 10 months, of which 7.5 years of general bonds and 15.5 years of special bonds; the average issuance interest rate was 2.90%, of which 2.80%of the general bonds, special bonds, special bonds, special bonds2.96%.

In the first 10 months of this year, local government bonds repaid the principal of 3.44 trillion yuan, of which 3.06 trillion yuan was repaid for re -financing bonds to repay the principal of 3.06 trillion yuan, and fiscal funds were repaid.During the same period, local government bonds paid 1.05 trillion yuan.

Data show that in October this year, the number of new bonds was issued nationwide to 226.7 billion yuan, and the issuance of 1.17 trillion yuan was issued.Together, 1.4 trillion yuan of local government bonds issued nationwide.

In addition, the Ministry of Finance of China announced that as of the end of October this year, the balance of local government debt in the country was 4001.1 billion yuan, which was controlled within the limit of 4,67.4 billion yuan approved by the National People's Congress.Among them, the general debt was 15708.6 billion yuan, the special debt was 243.25 billion yuan; the government bonds were 399.35.3 billion yuan, and the government bonds in the form of non -governmental bonds were 165.8 billion yuan.

As of the end of October this year, the remaining average of local government bonds was 9.2 years, of which general bonds were 6.4 years and special bonds were 11.0 years; the average interest rate was 3.28%, of which 3.27%of the average bonds and 3.28%of special bonds.

Since the beginning of this year, China's local debt issues have continued to be severe. It is expected that local government debt with a scale of 3.6 trillion yuan this year has expired.In order to alleviate the pressure of debt repayment, local governments issued re -financing bonds for debt repayment.This is also generally considered to be used to repay the government's responsible hidden debt, thereby extending the term of debt, reducing interest burden, and achieving the purpose of slowly release local government debt risks.