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China’s Local Bonds Surpass CNY10 Trillion Milestone for the First Time
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As of December 2, the issuance of bonds by local Chinese authorities exceeded 10 trillion yuan. This marks the first time in history that the annual issuance of bonds by local authorities has surpassed 10 trillion yuan.
China’s Local Bonds Surpass CNY10 Trillion Milestone for the First Time
On December 2nd, the annual issuance of local government bonds in China surpassed CNY10 trillion (USD 1.41 trillion) for the first time, all while remaining within the legal debt limit. As of December 2nd, regional debt issuance reached approximately CNY10.1 trillion, according to data from an independent analytics platform. Wen Laicheng, a professor at the Central University of Finance and Economics, remarked that crossing the CNY10 trillion ma…
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