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Local govt bond issuance falls in Feb

Local governments raised 364.2 billion yuan ($54.36 billion) through bond issuance in February, down from 418 billion yuan in January, data showed on Wednesday. In the first two months of the year, bond issuance of local governments totaled 782.1 billion yuan, according to the Ministry of Finance. By the end of February, outstanding local government debt reached 19.14 trillion yuan, below the official ceiling of 24.08 trillion yuan set for the year.

Rare earth output quotas announced