BEIJING, May 28 (Xinhua) -- In a significant move to bolster its economy, China's local governments have made substantial strides in bond issuance, totaling approximately 1.49 trillion yuan, or 207.63 billion U.S. dollars, within just the first four months of 2025. This data, released by the Ministry of Finance, highlights the aggressive fiscal strategies being deployed to promote economic stability.

Breaking down these figures, special-purpose bonds comprised a notable portion, exceeding 1.19 trillion yuan, while general-purpose bonds accounted for 302.3 billion yuan. This separation indicates a strategic approach, wherein local governments are prioritizing targeted investments through special-purpose funds to address specific developmental goals.

By the end of April 2025, the total outstanding local government debts had risen to over 50.69 trillion yuan. This mounting debt level signals the ongoing reliance of local authorities on bond financing to meet expenditures, especially in the wake of economic pressures.

The Chinese government has committed to a more proactive fiscal policy throughout this year, aimed at promoting continuity in economic and social development. To this end, a substantial issuance plan has been set for 2025, with the government targeting the release of 4.4 trillion yuan in local government special-purpose bonds.

This target represents an increase of 500 billion yuan compared to the previous year, reflecting an intensified focus on leveraging fiscal instruments to drive growth. The additional bond issuance aligns with China's broader objectives of sustaining economic momentum amidst shifting global economic conditions.