Guangxi issues 9.8b yuan government bonds for high-quality projects
Guangxi Zhuang autonomous region has successfully issued 9.87 billion yuan ($1.42billion) in new seven-year government bonds through the Ministry of Finance in Shenzhen's government bond issue system. With interest rates of 4.06 percent, it marks the completion of local issuance plans for 2018.
The newly issued government bonds include around 4.77 billion yuan in general bonds, 2.94 billion yuan in special bonds for colleges and universities, 733.3 million yuan in bonds for public hospitals and 1.13 billion yuan in bonds for industrial parks.
The local finance department has carefully examined and screened bond projects in accordance with the requirements of the Ministry of Finance.
Consequently, the bonds have mainly been invested in high-quality projects with good profit prospects, repayment ability and the highest credit rating (AAA). These projects involve universities, public hospitals, industrial parks and social fields.
According to official statistics, in 2018 the local government had issued a total of around 64.34 billion yuan in new bonds, 51.65 billion yuan in replacement bonds and 22.74 billion yuan in old bonds.