BEIJING, June 1 (Xinhua) -- South China's island province Hainan has recently issued 17.35 billion yuan of local government bonds as the third batch of government bond funds raised for accelerating the construction of Hainan free trade port and reducing the impacts caused by the novel coronavirus epidemic, reported China Daily last Wednesday.
The government bonds issued by Hainan could be divided into two types including the long-term refinancing bonds and new added bonds.
The refinancing bonds with a total value of 6.35 billion yuan will be mainly used to repay the principal of local government bonds due this year.
The new bonds totaling 11 billion yuan were raised for public welfare projects such as transportation infrastructure, medical and health, key industrial parks, ecological and environmental protection, and municipal infrastructure construction in Hainan, to further promote the province's infrastructure construction and boost economic and social development.
So far, Hainan has accumulatively issued 33.65 billion yuan of government bonds in 2020, accounting for 79.9 percent of the total limit of local bonds set by the Ministry of Finance. (Edited by Gao Jingyan with Xinhua Silk Road, firstname.lastname@example.org)