Ministry of Finance: In November, 246.9 billion yuan of local government bonds were issued nationwide

　　Chinanews.com, December 30th. The website of the Ministry of Finance recently released the situation of local government bond issuance and debt balance in November 2022.

1. Issuance of local government bonds across the country

　　(1) Issuance of the current month.

　　In November 2022, 49.1 billion yuan of new bonds will be issued across the country, including 3.6 billion yuan of general bonds and 45.5 billion yuan of special bonds.

A total of 197.8 billion yuan of refinancing bonds were issued across the country, including 120.7 billion yuan of general bonds and 77.1 billion yuan of special bonds.

In total, 246.9 billion yuan of local government bonds were issued across the country, including 124.3 billion yuan of general bonds and 122.6 billion yuan of special bonds.

　　In November 2022, the average issuance period of local government bonds is 9.9 years, of which general bonds are 7.5 years and special bonds are 12.4 years.

　　In November 2022, the average issuance rate of local government bonds will be 2.83%, including 2.77% for general bonds and 2.89% for special bonds.

　　(2) Issues from January to November.

　　From January to November 2022, 4,746.8 billion yuan of new bonds will be issued across the country, including 718.2 billion yuan of general bonds and 4,028.6 billion yuan of special bonds.

A total of 2,529.3 billion yuan of refinancing bonds were issued across the country, including 1,477.5 billion yuan of general bonds and 1,051.8 billion yuan of special bonds.

In total, 7,276.1 billion yuan of local government bonds were issued across the country, including 2,195.7 billion yuan of general bonds and 5,080.4 billion yuan of special bonds.

　　From January to November 2022, the average issuance period of local government bonds is 13.3 years, of which 8.0 years are general bonds and 15.6 years are special bonds.

　　From January to November 2022, the average issuance rate of local government bonds is 3.02%, including 2.85% for general bonds and 3.09% for special bonds.

　　(3) The repayment of principal and interest from January to November.

　　From January to November 2022, local government bonds will repay principal of 2,709.7 billion yuan upon maturity, of which 2,297.4 billion yuan will be repaid with refinancing bonds and 412.3 billion yuan will be repaid with fiscal funds.

In November, the principal repayment due in that month was 379.3 billion yuan.

　　From January to November 2022, the interest paid on local government bonds will be 1,041.5 billion yuan.

Among them, in November, local government bonds paid 88.9 billion yuan in interest.

2. National Local Government Debt Balance

　　After deliberation and approval at the Fifth Session of the Thirteenth National People's Congress, the national local government debt limit in 2022 is 37,647.430 billion yuan, of which the general debt limit is 15,828.922 billion yuan, and the special debt limit is 21,818.508 billion yuan.

　　As of the end of November 2022, the balance of local government debt across the country was 35,036.4 billion yuan, which was controlled within the limit approved by the National People's Congress.

Among them, general debt is 14,384.1 billion yuan, special debt is 20,652.3 billion yuan; government bonds are 34,874.1 billion yuan, and non-government bond stock government debt is 162.3 billion yuan.

　　As of the end of November 2022, the remaining average term of local government bonds is 8.5 years, of which general bonds are 6.3 years and special bonds are 10.1 years; the average interest rate is 3.39%, of which general bonds are 3.39% and special bonds are 3.39%.

(China New Finance and Economics)