In the first August, China issued 3.96 trillion yuan of local debt.

According to data from the Ministry of Finance on August 18, 56.95 billion yuan of local government bonds were issued nationwide. Among them, 163.2 billion yuan of general bonds and 406.3 billion yuan of special bonds were issued, 342.1 billion yuan of new bonds were issued (including 22.7 billion yuan of new general bonds and 319.4 billion yuan of new special bonds), 227.4 billion yuan of replacement bonds and refinancing bonds were issued (for repaying the principal of some maturing local government bonds, the same below).

From January to August, 3962.6 billion yuan of local government bonds were issued nationwide. Among them, 1611 billion yuan of general bonds and 2351.6 billion yuan of special bonds were issued, 2895.1 billion yuan of new bonds were issued (including 889.4 billion yuan of new general bonds and 205.7 billion yuan of new special bonds), 1067.5 billion yuan of replacement bonds and refinancing bonds were issued.

The debt balance of the national local governments shows that the debt limit of the national local governments in 2019 is 24077.43 billion yuan, which was approved by the second session of the 13th National People's Congress. Among them, the general debt limit is 13308.922 billion yuan, and the special debt limit is 1076.588 billion yuan.

By the end of August, the balance of local government debt was 21413.9 billion yuan, which was controlled within the limits approved by the National People's Congress. Among them, the general debt is 1196.22 billion yuan, the special debt is 9451.7 billion yuan, the government bond is 21023.1 billion yuan, and the non-governmental bond form stock is 390.8 billion yuan. The average remaining life of local government bonds is 5 years, including 5 years for general bonds and 5.1 years for special bonds; the average interest rate is 3.53%, of which 3.53% for general bonds and 3.52% for special bonds.