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China local govts issued 77.3% of year's quota of special bonds by end-Aug

BEIJING, Sept 9 (Reuters) - New local government special bond issuance in China totaled 2.8969 trillion yuan ($422.84 billion) by end-Aug, accounting for 77.3% of the year’s quota, the finance ministry said on Wednesday.

Overall bond net issuance by local governments in the same period accounted for 79.3% of the whole-year quota, the ministry said in a statement on its website.

Chinese local government net debt issuance was at 920.8 billion yuan in August, it said, a sharp jump from 42.2 billion yuan in the previous month. ($1 = 6.8511 Chinese yuan renminbi) (Reporting by Lusha Zhang and Ryan Woo; Editing by Muralikumar Anantharaman)

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