China issued over 1.86 trillion yuan (about 260 billion U.S. dollars) in local government bonds in the first two months of 2025, marking the country's strong fiscal measures to support local development.
The latest data from the Ministry of Finance show that new local government bonds amounting to 801.9 billion yuan were issued nationwide from January to February, including 205.1 billion yuan in general bonds and 596.8 billion yuan in special bonds.
In total, over 1.86 trillion yuan in local government bonds were issued nationwide, with 235.5 billion yuan in general bonds and around 1.63 trillion yuan in special bonds.
The bonds are part of the Chinese government's annual plan to adopt a more proactive fiscal policy, which includes issuing 4.4 trillion yuan of local government special-purpose bonds in 2025, an increase of 500 billion yuan over last year, according to this year's government work report.
China issued over 1.86 trillion yuan local government bonds in January, February
China issued over 1.86 trillion yuan local government bonds in January, February
Major U.S. stock index futures plummeted in after-hours trading on Wednesday following President Donald Trump's announcement of the so-called "reciprocal tariffs" on trade partners.
As of 18:35 Eastern Time, the Dow Jones Industrial Average futures had dropped 2.43 percent, the S and P 500 futures were down 3.6 percent, and the Nasdaq Composite futures had slumped 4.35 percent.
Meanwhile, crude oil futures traded on the New York Mercantile Exchange fell more than 2.5 percent in after-hours trading.
Amid widespread opposition, Trump announced in the White House on Wednesday that he is imposing the so-called "reciprocal tariffs" on trading partners.
Displaying a chart illustrating "reciprocal tariffs," Trump announced that the United States has established a "minimum baseline tariff" of 10 percent on practically all imported goods, plus even higher rates on certain trading partners, including China, the European Union, Vietnam, Japan, India, South Korea and Thailand.
Despite Trump's claim that higher tariffs will help bring in revenue for the government and revitalize U.S. manufacturing, economists have warned that such measures will push up prices for U.S. consumers and businesses, disrupt global trade, and hurt global economy.
US stock index futures slump following reciprocal tariffs announcement
