China's local governments issue debt of 4.36 trillion yuan in 2017
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BEIJING - China's local governments raised 4.36 trillion yuan ($680 billion) through debt issuance in 2017, official data showed Wednesday.
Local government debt balance stood at 16.47 trillion yuan by the end of 2017, below the government-targeted ceiling of 18.82 trillion yuan, data released by the Ministry of Finance (MOF) showed.
New debt issuance stood at 1.59 trillion yuan while that issued through the debt-for-bond swap program reached 2.77 trillion yuan, according to the MOF.
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