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China to see RMB2.8 trln local gov't bonds come due next yr, Moody's

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2014-12-09 GMT+8:00

BEIJING, Dec. 9 (Xinhua) -- About 2.5 trillion yuan of bonds issued by China's local governments will become mature next year, according to a report on Tuesday by the Economic Information Daily quoting Moody's statistics.

Industrial insiders hold the most pressing task is for China to tackle the debt issue is to resolve the gigantic existing debts. Debt interest expenditure accounted for over 50 percent of China's new social financing in 2014, which severely affects the quality of economic operation and transmission of monetary policy.  (Edited by Hou Yujie, houyj@xinhua.org)

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