1. National local government bond issuance status
(I) Issuance status of the month.
In August 2022, 64.2 billion yuan of new bonds were issued nationwide, including 12.6 billion yuan of general bonds and 51.6 billion yuan of special bonds. Refinancing bonds were issued nationwide, of which 163.4 billion yuan were RMB 163.3 billion yuan in general bonds and 163.3 billion yuan in special bonds. Total, 390.9 billion yuan of local government bonds were issued nationwide, including 176 billion yuan of general bonds and 214.9 billion yuan of special bonds.
In August 2022, the average issuance period of local government bonds was 8.5 years, including 8.0 years for general bonds and 9.0 years for special bonds.
In August 2022, the average issuance rate of local government bonds was 2.77%, of which 2.78% were general bonds and 2.77% were special bonds.
(Part 2) Release status from January to August.
From January to August 2022, 4210 billion yuan of new bonds were issued nationwide, including 690.9 billion yuan of general bonds and 351.91 billion yuan of special bonds. Refinancing bonds were issued nationwide, of which 1065.5 billion yuan were RMB 106.15 billion yuan in general bonds and 771.9 billion yuan in special bonds. Total, 6047.4 billion yuan of local government bonds were issued nationwide, including 175.64 billion yuan of general bonds and 429.1 billion yuan of special bonds.
From January to August 2022, the average issuance period of local government bonds was 13.5 years, including 8.1 years for general bonds and 15.6 years for special bonds.
From January to August 2022, the average issuance rate of local government bonds was 3.05%, of which 2.88% were general bonds and 3.12% were special bonds.
(Wednesday) Repayment of principal and interest from January to August.
From January to August 2022, local government bonds repaid 1733.7 billion yuan in principal when maturity was made, of which 145.3 billion yuan of principal was issued for refinancing bonds, and arranging fiscal funds were repaid 280.7 billion yuan. The principal was repaid at 271.8 billion yuan in the month of August.
From January to August 2022, local government bonds paid 756.6 billion yuan in interest. Among them, local government bonds paid 127.4 billion yuan in interest in August.
2. National local government debt balance
After review and approval by the Fifth Session of the 13th National People's Congress, the national local government debt limit in 2022 is 37647.43 billion yuan, of which the general debt limit is 15828.922 billion yuan and the special debt limit is 21818.508 billion yuan.
As of the end of August 2022, the national local government debt balance was 34783.8 billion yuan, which was controlled within the limit approved by National People's Congress . Among them, general debt is 14442.2 billion yuan, special debt is 20341.6 billion yuan; government bonds are 34621.5 billion yuan, and existing government debts in the form of non-government bonds are 162.3 billion yuan.
As of the end of August 2022, the remaining average life of local government bonds was 8.4 years, including 6.3 years for general bonds and 9.9 years for special bonds; the average interest rate was 3.42%, of which general bonds were 3.42% and special bonds were 3.42%.
Note: 1. Some of the decimal places of the data are rounded by rounding.
2. The balance of local government debt during the annual execution is local statistical data.
3. Local government bond issuance data is based on the date when the provincial government successfully issues local government bonds.
4. The interest payment data of local government bonds is based on the bond interest date.
5. The balance of local government bonds has changed compared with last month, mainly within the 2022 new local government debt limit approved by the State Council, local governments have issued new local government bonds accordingly.
(reprinted from: Budget Department of the Ministry of Finance)
Source: Ministry of Finance
