Markets > Bonds

MOF grants RMB2 trln quota for local gov't debt swap program, PBOC

BEIJING
2015-08-11 15:04

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China's Ministry of Finance has given local governments 2 trillion yuan of quota to replace existing debts with new bonds since the middle of May this year, the Shanghai Securities News reported Tuesday citing a central bank official.

By the end of July, China had offered overall 1.41 trillion yuan worth of local government bonds, nearly fulfilling 70 percent of the MOF's total debt-swap quota.

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