China issues over 4.3 trln yuan in new local gov't bonds in January-September

BEIJING, Oct. 24 (Xinhua) -- China's local governments issued new bonds worth about 4.36 trillion yuan (about 614.7 billion U.S. dollars) in the first nine months of this year, data from the Ministry of Finance showed on Friday.

Of that total, general-purpose bond issuance came in at 675.8 billion yuan, and special-purpose bond issuance amounted to nearly 3.69 trillion yuan.

By the end of September, China's outstanding local government debts stood at approximately 53.7 trillion yuan, the ministry said.

China has pledged a more proactive fiscal policy this year to shore up sustained economic and social development. The country plans to issue 4.4 trillion yuan in local government special-purpose bonds in 2025, marking an increase of 500 billion yuan from last year, according to this year's government work report.