China issues 9.14 trln yuan new local government bonds in Jan.-Nov.

Chinese local governments issued new bonds worth 9.14 trillion yuan (US$1.29 trillion) in the first 11 months of this year, according to the Ministry of Finance.

Of the total, special bond issuance came in at 5.85 trillion yuan in the period, while the issuance of general bonds amounted to 3.29 trillion yuan.

During the January-November period, local government bonds were issued with an average issuance term of 12.4 years, and at an average interest rate of 2.9 percent.

In November alone, local government bond issuance reached 667.2 billion yuan.

By the end of November, China's outstanding local government debts stood at 40.64 trillion yuan, within the official limit for this year, the ministry said.