Date
19 September 2017

Wuhan bond issues up 30 times over five years, paper says

Wuhan in central China’s Hubei province has seen its bond issuance for urban construction projects jump to 33.27 billion yuan (US$5.43 billion) last year from 1 billion yuan in 2008, as the city pursues its program of rapid urbanization, China Business News reported Thursday, citing statistics from financial data provider Wind Information. As of Jan. 17 this year, Wuhan had an outstanding debt balance of 76.62 billion yuan, compared with its income of 82.85 billion yuan in 2012, the report said. The city’s debt burden is expected to increase as new bonds are issued at higher yields to repay maturing debt, an analyst was quoted as saying.

– Contact HKEJ [email protected]

TL/AC/CG

 

 

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