In the January-October period this year, China’s issuance of new local government special bonds amounted to RMB 3.89 trillion ($0.54 trillion). In particular, China’s issuance of new local government special bonds in October totaled RMB 297.1 billion ($41.3 billion), decreasing by RMB 730.8 billion ($101.6 billion) compared to September this year, while increasing by RMB 78.7 billion ($10.9 billion) year on year.
Due to the over-issuance of special bonds in August and September, the issuance of new special bonds decreased in October amid the decline in the available quota, though still increasing compared to the same period last year.