Global EditionASIA 中文双语Français
Home / Business / Finance

China's local gov't debt within official limit by November

Xinhua | Updated: 2018-12-22 14:43
China issued local government bonds worth 45.9 billion yuan in November of this year. [Photo/IC]

BEIJING - The total outstanding debt of China's local governments stood at 18.29 trillion yuan ($2.66 trillion) at the end of November, which is within the official limit, according to the Ministry of Finance.

The country's top legislative body has decided that the upper limit for local government debt this year should be 21 trillion yuan.

China issued local government bonds worth 45.9 billion yuan in November, bringing the tally for the first 11 months of this year to 4.1 trillion yuan.

China has made bond issuance the sole legal way for local governments to raise debt amid efforts to forestall systemic financial risks.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349