China state-controlled media with the report( Yicai Global, the English-language news service of Yicai Media Group, the financial news arm of Shanghai Media Group).
In brief:
- Local governments in China issued around CNY2.1 trillion (USD305.3 billion) of bonds in the first three months of this year, up 15.6 percent from a year earlier, with most going to finance infrastructure projects.
- Refinancing bonds used to repay debt jumped 73 percent to CNY440 billion (USD63.9 billion) in the first quarter from a year ago
