China's Local Government Bond Issuance Surpasses 4 Trillion Yuan Year-to-Date, Up 8% YoY

GateNews

According to Wind data, as of May 13, China’s local government bond issuance reached 4.0357 trillion yuan year-to-date, surpassing the 4 trillion yuan mark. This represents 8% growth compared to 3.752 trillion yuan in the same period of 2025, according to Securities Daily. The government work report had targeted 4.4 trillion yuan in local government special bonds for 2026, focusing on major infrastructure projects, implicit debt swaps, and clearing government arrears.

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