China News Service, July 8 (Xinhua) The Ministry of Finance website released on June 8 the local government bond issuance and debt balance in June 2020. In June 2020, local government bonds issued 286.7 billion yuan nationwide. Among them, the issuance of general bonds was 169.1 billion yuan, and the issuance of special bonds was 117.6 billion yuan; according to the purpose, the issuance of new bonds was 84.5 billion yuan, and the issuance of refinancing bonds was 202.2 billion yuan. The average issuance period of local government bonds is 14.1 years, of which general bonds are 11.8 years and special bonds are 17.3 years; the average interest rate is 3.23%, of which general bonds are 3.10% and special bonds are 3.42%.
From January to June 2020, the country issued 34,64 billion yuan of local government bonds. Among them, general bonds were issued 11.139 trillion yuan, and special bonds were issued 237.25 billion yuan; according to usage, new bonds were issued 276.9 billion yuan, and refinancing bonds were issued 699.5 billion yuan. The average issuance period of local government bonds is 15.1 years. Among them, general bonds are 14.7 years and special bonds are 15.3 years. The average issuance rate of local government bonds is 3.27%. Among them, general bonds are 3.12% and special bonds are 3.33%.
From January to June 2020, local government bonds will repay the principal of 635.3 billion yuan upon maturity. Among them, the principal repayment in June was 335.9 billion yuan, including the repayment of the principal of 561.7 billion yuan in refinancing bonds and the arrangement of financial funds to repay the principal of 73.6 billion yuan. The local government bonds paid interest of 346.3 billion yuan. Among them, the local government bonds paid interest of 106.1 billion yuan in June.
Examined and approved by the third meeting of the 13th National People's Congress, the national debt limit for the local government will be 28,807.43 billion yuan in 2020, including the general debt limit of 14,289.2922 billion yuan and the special debt limit of 145185.08 billion yuan.
As of the end of June 2020, the local government debt balance of the country was 241.583 billion yuan, controlled within the limit approved by the National People's Congress. Among them, general debt was 12.42822 trillion yuan, special debt was 116761 billion yuan; government bonds were 23.9696 trillion yuan, and non-government bonds were in the form of 188.9 billion yuan in government debt. The average remaining life of local government bonds is 6.1 years, of which 5.5 years are for general bonds and 6.7 years for special bonds; the average interest rate is 3.50%, including 3.51% for general bonds and 3.49% for special bonds.