BEIJING, Sept. 27 (Xinhua) -- Chinese local government bond (LGB) issues mounted up to 4.8776 trillion yuan in the first eight months of this year, with general LGB issues at 2.1020 trillion yuan and special-purpose LGB bonds issues at 2.7756 trillion yuan, reported Xinhua-run Xinhua Finance citing statistics released by Ministry of Finance on Sunday.
By the use of proceeds, 2.4763 trillion yuan of LGBs for new financing of Chinese local governments were issued from January to August and 2.4013 trillion yuan of LGBs were issued for refinancing.
In August, total LGB issues stood at 879.7 billion yuan, of which general LGB issues were 243.7 billion yuan and special-purpose LGB issues were 636.0 billion yuan.
By the use of proceeds, LGBs issued for new financing of Chinese local governments reached 593.0 billion yuan and those issued for refinancing of Chinese local governments were 286.7 billion yuan.
By the end of August, total outstanding debts of Chinese local governments reached 28.4731 trillion yuan, which stayed under the approved ceiling by Chinese legislature.
Of the total, general debts of Chinese local governments were 13.5893 trillion yuan and debts borrowed for special purpose were 14.8838 trillion yuan. Among the 28.47 trillion yuan of debts, 28.2984 trillion yuan are local government bonds and the remaining 174.7 billion yuan of debts are other forms of local government debts. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
