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China's Ministry of Finance: Recently allocated a 550 billion yuan local government debt carryover limit, with 2.07 trillion yuan in new special bonds issued in the first half of the year.
China's Ministry of Finance announced in a recent report that it has allocated 550 billion yuan from the outstanding local government debt limit. This allocation aims to enhance the fiscal capacity of county-level general public budgets and support local governments in expanding effective investment. The report also noted that in the first half of the year, a total of 2.07 trillion yuan in new local government special bonds were issued, supporting over 17,000 construction projects.
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