Briefly

Local govt bonds in Jan raise 625.8b yuan

China's local governments issued bonds worth 625.8 billion yuan ($89.95 billion) in January, according to the Ministry of Finance. Special bonds netted 491.2 billion yuan while general bonds raised 134.6 billion yuan. The bonds' average tenure is 16.6 years and average interest rate is 3.12 percent. By the end of January, China's outstanding local government debts stood at around 35.7 trillion yuan.

Yuan weakens to 6.9572 against USD

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 630 pips to 6.9572 against the US dollar on Monday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

Xinhua - China Daily