China issues 3.6t yuan of bonds in May

BEIJING - The value of bonds issued in China totaled 3.6 trillion yuan ($521.7 billion) in May, data from the central bank showed.

Treasury bond issuance amounted to 395.3 billion yuan, while local government bond issuance was worth 304.3 billion yuan, according to a statement by the People's Bank of China.

By the end of May, the size of the outstanding bond market debt was 91.1 trillion yuan.

China will accelerate the local government bond issuance this year to help the timely implementation of various projects.

The debt balance of local governments stood at 19.6 trillion yuan at the end of 2018, well below the official ceiling of 21 trillion yuan.