Some experts said that the stock size of China’s local debt is expected to exceed 30 trillion yuan by the end of 2021.
According to the issuance announcement disclosed by China Bond Information Network recently, the issuance scale of commercial bank debt in April this year was 219.6 billion yuan (RMB, the same below), and the issuance scale of commercial bank debt in the previous month was 231.86 billion yuan.
According to the previous statistics of the surging news, the scale of commercial bank debt issuance in the first quarter of this year reached 342.52 billion yuan. Together with the issuance scale of commercial bank debt in April, the issuance scale of commercial bank debt in the first four months of this year reached 562.12 billion yuan.
A total of 28 banks issued bonds in April, 16 urban commercial banks, 6 agricultural commercial banks, 3 joint-stock banks, 2 large state-owned banks and 1 Sino-foreign joint venture bank.
In terms of the types of bonds issued, 10 banks issued special financial bonds for loans to small and micro enterprises totaling 94 billion yuan, accounting for 42.8% of commercial banks’ debt issuance in the month; 6 banks issued perpetual bonds totaling 77.8 billion yuan; 3 banks issued financial bonds totaling 34 billion yuan; and 8 banks issued secondary capital bonds totaling 8.8 billion yuan.
Also, Xinhua Finance reported last week that the size of the national local government debt stock reached 25.49 trillion yuan by the end of December 2020. Some experts said that the stock size of local debt is expected to exceed 30 trillion yuan by the end of 2021.
As of December 18, 2020, the cumulative amount of mainland bond defaults exceeded 160 billion yuan, of which the amount of state-owned enterprise bond defaults has reached three times the annual amount of 2019.
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