China Local Government Bond Market Report
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In October, the issuance of local government bonds (LGBs) were RMB680.73 billion, with a month-on-month increase of RMB379.65 billion and a year-on-year decrease of RMB195.33 billion. Average interest rate of issued LGBs was 2.95%, with a month-on-month increase of 21 bps and a year-on-year decrease of 40 bps. Average maturity of issued LGBs was 14.60 years, with a month-on-month increase of 4.72 years and a year-on-year increase of 1.13 years. The amount of spot transaction of LGBs in the secondary market was RMB653.3 billion.
From January to October, the total issuance of LGBs were RMB7029.22 billion. Average interest rate of issued LGBs was 3.03%, with a decrease of 34 bps year-on-year. Average maturity of issued LGBs was 13.42 years, with a year-on-year increase of 1.84 years. The amount of spot transaction of LGBs in the secondary market was RMB8083.73 billion.
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