September 30 (Xinhua) — According to the website of the Ministry of Finance, the Ministry of Finance released on the 30th the situation regarding local government bond issuance and outstanding debt for August 2024.

　　National Local Government Bond Issuance

(I) Issuance in the current month.

In August 2024, the nation issued 947.4 billion yuan of new bonds, including 142.3 billion yuan of general bonds and 805.1 billion yuan of special bonds. The nation issued 261.7 billion yuan of refinancing bonds, including 111.0 billion yuan of general bonds and 150.7 billion yuan of special bonds. In total, the nation issued 1,209.1 billion yuan of local government bonds, including 253.3 billion yuan of general bonds and 955.8 billion yuan of special bonds.

In August 2024, the average issuance maturity of local government bonds was 14.2 years, including 8.4 years for general bonds and 15.8 years for special bonds.

In August 2024, the average issuance interest rate of local government bonds was 2.24%, including 2.15% for general bonds and 2.27% for special bonds.

(II) Issuance from January to August.

From January to August 2024, the nation issued 3,093.3 billion yuan of new local government bonds, including 513.3 billion yuan of general bonds and 2,580.0 billion yuan of special bonds. The nation issued 2,319.5 billion yuan of refinancing bonds, including 1,000.9 billion yuan of general bonds and 1,318.6 billion yuan of special bonds. The nation issued a total of 5,412.8 billion yuan of local government bonds, including 1,514.2 billion yuan of general bonds and 3,898.6 billion yuan of special bonds.

From January to August 2024, the average issuance maturity of local government bonds was 12.7 years, including 8.3 years for general bonds and 14.4 years for special bonds.

From January to August 2024, the average issuance interest rate of local government bonds was 2.38%, including 2.34% for general bonds and 2.40% for special bonds.

(III) Principal and interest repayment from January to August.

From January to August 2024, 2,520.4 billion yuan of maturing principal of local government bonds was repaid, including 2,137.7 billion yuan of principal repaid through the issuance of refinancing bonds and 382.7 billion yuan of principal repaid through fiscal funds and other arrangements. In the month of August, 380.4 billion yuan of maturing principal was repaid.

From January to August 2024, 919.0 billion yuan of interest was paid on local government bonds. Of this, 143.0 billion yuan of interest on local government bonds was paid in the month of August.

　　National Local Government Debt Outstanding

As of the end of August 2024, the outstanding balance of local government debt nationwide was 43,629.7 billion yuan. Of this, general debt was 16,363.5 billion yuan and special debt was 27,266.2 billion yuan; government bonds were 43,463.5 billion yuan, and existing government debt in non-government bond form was 166.2 billion yuan.

As of the end of August 2024, the remaining average maturity of local government bonds was 9.4 years, including 6.2 years for general bonds and 11.3 years for special bonds; the average interest rate was 3.15%, including 3.16% for general bonds and 3.14% for special bonds.