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China’s local governments issue debt of 4.36 trillion yuan in 2017

Updated: Jan 17,2018 6:59 PM     Xinhua

BEIJING — China’s local governments raised 4.36 trillion yuan ($680 billion) through debt issuance in 2017, official data showed on Jan 17.

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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