China News Service, September 24. According to the Ministry of Finance website news, in August 2020, local government bonds issued nationwide amounted to RMB 119,700 million.
Among them, 479.8 billion yuan was issued for general bonds and 719.9 billion yuan for special bonds; according to the purpose, new bonds were issued 920.9 billion yuan, and refinancing bonds were issued 278.8 billion yuan.
In August 2020, the average issuance period of local government bonds is 15 years, including 15.6 years for general bonds and 14.6 years for special bonds.
In August 2020, the average interest rate of local government bonds is 3.53%, of which 3.51% for general bonds and 3.54% for special bonds.
Issuance from January to August
From January to August 2020, the nationwide issuance of 4.9584 billion yuan in local government bonds.
Among them, the issuance of general bonds was 1,770.1 billion yuan, and the issuance of special bonds was 3.188.3 billion yuan; according to the purpose, new bonds were issued 3,749.99 billion yuan, and refinancing bonds were issued 1,2008.5 billion yuan.
From January to August 2020, the average issuance period of local government bonds is 15 years.
Among them, 14.8 years for general bonds and 15.2 years for special bonds.
From January to August 2020, the average interest rate of local government bonds is 3.34%.
Among them, general bonds are 3.25% and special bonds are 3.39%.
Repayment of principal and interest from January to August.
From January to August 2020, local government bonds will repay 1,164.1 billion yuan in principal at maturity.
Among them, the principal repayment due in August was 257.3 billion yuan.
Issued refinancing bonds to repay the principal amount of 1,067.4 billion yuan and arranged fiscal funds to repay the principal amount of 96.7 billion yuan.
From January to August 2020, local government bonds paid 549.5 billion yuan in interest.
Among them, the interest paid on local government bonds in August was 99 billion yuan.
National local government debt balance
After deliberation and approval at the Third Session of the Thirteenth National People's Congress, the national local government debt limit for 2020 is 28807.43 billion yuan, of which the general debt limit is 14,288.922 billion yuan and the special debt limit is 14.518508 billion yuan.
As of the end of August 2020, the balance of local government debt across the country was 25,104 billion yuan, within the limit approved by the National People's Congress.
Among them, general debt is 12,783.5 billion yuan, special debt is 12,320.5 billion yuan; government bonds are 2,49125 billion yuan, and government debt in the form of non-government bonds is 191.5 billion yuan.
As of the end of August 2020, the average remaining life of local government bonds is 6.6 years, including 6 years for general bonds and 7.2 years for special bonds; the average interest rate is 3.50%, including 3.51% for general bonds and 3.50% for special bonds.