China issued net 3.96 trln yuan in special local government bonds in 2023

China's local governments issued a net 3.96 trillion yuan ($551.54 billion) in special bonds in 2023, data from the Chinese finance ministry showed on Tuesday.

In December alone, local governments issued a net 92.1 billion yuan in special bonds, the data showed.

($1 = 7.1799 Chinese yuan renminbi)