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China's local governments issue debt of $680 billion in 2017

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Staff Writer | January 17, 2018
China central bank
Asia   Local government debt balance

China's local governments raised 4.36 trillion yuan ($680 billion) through debt issuance in 2017.

Local government debt balance stood at 16.47 trillion yuan by the end of 2017, below the government-targeted ceiling of 18.82 trillion yuan, data released by the Ministry of Finance (MOF) showed.

New debt issuance stood at 1.59 trillion yuan while that issued through the debt-for-bond swap program reached 2.77 trillion yuan, according to the MOF.

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