LINE

Text:AAAPrint
Business

China's local government debt balance at 16.61 tln yuan by end March

1
2018-04-15 13:10:27Xinhua Feng Shuang ECNS App Download

China's local government debt balance stood at 16.61 trillion yuan (2.64 trillion U.S. dollars) at the end of March, well within the official limit, according to the Ministry of Finance showed.

The country's top legislative body has decided that the upper limit for local government debt this year should be 20.99 trillion yuan.

China issued local government bonds worth 191 billion yuan in March and 219.5 billion yuan in the first three months of this year, all for debt swaps.

China has made bond issuance the sole legal way for local governments to raise debt amid the nation's efforts to forestall systemic financial crisis, the country's finance minister said last Month.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.